4.4 • 1.6K Ratings
🗓️ 8 April 2022
⏱️ 10 minutes
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With fears rising that the war in Ukraine might spark a big rise in global food prices, we're going back 50 years to the story of how a drought in the bread basket of the Soviet Union led to a catastrophic trade deal between Moscow and Washington. The Nixon White House unwittingly signed a grain financing contract that crippled American farmers, fuelled inflation and sent world cereal prices through the roof. Laura Jones speaks to investigative journalist Martha Hamilton and former Soviet crop scientist, Dr Felix Kogan, about what became known as "The Great Grain Robbery".
PHOTO: Golden wheat on a farm in the US state of Nebraska in the 1970s (Denver Post/Getty Images)
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0:00.0 | Choosing what to watch night after night the flicking through the endless |
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0:21.0 | And me, Natalie Cassidy, so your evenings can be a little less |
0:24.9 | searching and a lot more auction listen on BBC sounds. Hello and thank you for downloading the Witness History podcast from the BBC World Service with me Laura Jones. |
0:42.0 | With concerns growing about the impact of the Russian invasion of Ukraine on the global food supply, |
0:47.3 | we're returning to 1972, when grain shortages in the former USSR made prices sore around the world. |
0:55.2 | I've been finding out more about a trade deal which became known as the Great Grain Robbery. |
1:17.0 | During the Nixon-Breschen robbery. were to buy a quarter of America's total crop of winter wheat, but outsiders knew nothing of this, not then. I would define it as a really bad deal by the United States with the USFAR. |
1:22.0 | This is American investigative journalist Martha Hamilton. |
1:25.8 | Prices went up very rapidly because Russia and Ukraine together produced so much grain on the world market that any change in their |
1:36.0 | purchasing patterns has the huge effect. |
1:41.0 | But the deal was a steal for Moscow. The Soviet Union got cheap food |
1:45.0 | thanks to the American taxpayer. That's why it became known as the Great Grain |
1:49.7 | Robbery. U.S. taxpayers subsidize the cost of grain to the Soviet Union. |
1:55.8 | Soviet Union was able to buy the grain much cheaper than it had expected to be able to buy the grain. |
2:01.8 | In 1972, Martha Hamilton was working for a farming organization in Washington. |
2:07.0 | Our focus was on hoping to save family farmers from the growing industrial farming that was becoming the norm in the United States. |
2:16.4 | As part of that I started looking at the international grain trade. |
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