New York, the country’s third largest milk producer, doesn’t have enough cows to raise the supply of milk needed to accommodate the soaring demand.
The reason? Rapid growth of the Greek yogurt industry in New York, combined with environmental regulations that prevent farmers from raising more cows to produce more milk. It’s a typical demand/supply imbalance that pushes the price of milk higher, hurting both milk consumers and yogurt producers.
The rapid growth of the Greek yogurt industry at a time when growth is hard to come by highlights the importance of entrepreneurship in revitalizing the country. As discussed in a previous piece, Greek yogurt was brought to New York by Costas Mastoras, owner and founder of Optima and Titan Foods in Astoria, Queens. Costas is the man who discovered FAGE, the first Greek company that mass-produced the centuries-old strained yogurt, and imported it in America.
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