Cargill and Friends
Publisher: GATT-Fly, Toronto, Canada
The Grain Companies' Rollercoaster and Why We Should Get Off
Year Published: 1976
Pages: 6pp Price: $0.05
Resource Type: Article
A brochure that charts the growth of major multinational grain trading companies.
Abstract: This brochure charts the steady growth of major multinational grain trading companies such as Continental Grain, Bunge, Cook, Louis Dreyfus and particularly Cargill Inc. Together they control 90% of the international grain trade. Prior to 1972 the price of wheat in the U.S., Canada and world markets fluctuated very little; however, as a result of the huge Soviet wheat purchases in '72, world prices became unstable and Cargill and friends seized upon the opportunity to capitalize through speculative trading; this was done at the expense of consumers in developed countries and governments in underdeveloped countries. Canada has traditionally been protected from such exploitation by prairie farmer co-ops and the wheat board. The latter has managed to maintain an orderly market by guaranteeing the farmer a minimum to average price for any wheat that it handles. However, as a result of the continuing trend on the part of the Canadian government to hand wheat over directly to private commodity exchanges and grain traders, this autonomy is now severely threatened. Presently, Canada is the only important source of wheat not totally exposed to Cargill and friends' profiteering - however, these companies are obviously pressuring for the total wheat market in this country. The National Farmers Union, the Wheat Pool Co-ops and individual farmers appreciate the danger this campaign poses to Canadian farmers and consumers -- here and abroad -- and they are fighting it. This flyer provides additional information as to how one can become more involved in this issue.
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