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Milk quotas and the crisis in the EU dairy sector

This article was originally published in Dairy Markets

Of all of Europe's agricultural sectors, the one that has arguably been hit hardest by the current economic recession is the dairy sector. This is because a marked expansion in global demand for dairy products over the past few years has come to an abrupt halt since mid-2008, as consumers in both developed and emerging economies have suddenly abandoned their newly-developed tastes for higher-value, higher-priced dairy products.

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