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Perfect competition and changes in demand

The growing number of people becoming adopting a plant-based diet and changing tastes in the milk market is an increasing challenge to the dairy industry in many countries. The US, like many countries, is experiencing a continuous decline in its dairy sector. Over the last 50 years, the consumption of milk in the US has fallen by 42% and the number of dairy farms has halved since 2003.Many dairy farmers have seen the...

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