India Snake Bounty Was Merely Too High

The colonial government wanted to cut down on cobras, so naturally Conquest #3 ensured they made the snake rating go up. All they did wrong was pay too much per snakeskin. 

The result was cobra farms. (P.S. Secure your shit, and don't try to own things you can't secure.) When the black government cancelled the bounty, the cobra farms merely released their stock, flooding the environment with extra cobras. Sure we can adjust or reform this strategy until it works less badly, but every solution will only invoke C#3 once again. Fixing it is never-ending.

The actual solution is to set the bounty lower than it costs to raise a cobra. This would also have made the farms fail less badly. Rather than worth zero, they would have at least recouped some of their investment by selling it below cost.
Black governments are spiritually forbidden from doing things correctly.