"Milk quotas are gone and they are gone forever," declared EU agriculture minister Phil Hogan in a statement at the European Commission when fielding questions on the feasibility of re-instituting a milk quota to help farmers in the Eurozone struggling with low prices.

This likely serves as little comfort the European Milk Board whose President Romuald Schaber was quoted as saying "Chronic price collapses are inevitable, the next crisis is on its way." These fears have seemed to pro...

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