So what did 2004 bring for the dairy industry? It could be argued that it brought a lot of momentous decisions but not a lot of outcome. Decisions and preparations were made, but the follow-through has yet to come. Alternatively it could be argued that great events did happen, but they didn't have the effect that had been expected. Enlargement falls into the latter category. That was a major event for the EU. Less so for the dairy as it only added an additional 16 per cent to EU milk production. Nevertheless that could have been enough to create a big splash in the market. In the event not even a ripple reached these shores. No great hidden stockpile was uncovered that could have collapsed prices. Instead they started to rise in the new member states and the consensus opinion emerged that enlargement was more of an opportunity for the dairy industry than a threat. In other words, because of the quota settlement in the new member states, in the long run the benefit of any market growth would accrue to existing states and not to the new ones.
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