The US Hide, Skin and Leather Association (USHSLA) issued a letter to its leather industry colleagues and representative organisations requesting their assistance in reminding individual companies of the importance of contracts and the rule of law in the global trading system.
"Hides and leather markets experience periods of sudden price increases and decreases," commented Steve Sothmann, USHSLA president, in the letter, "It is in the best interests of all of our members if we continuously reinforce the importance of honouring contracts and avoid individual retaliation when the market moves in the opposite direction."
Due to recent price volatility in the hides and leather markets, companies have reported a significant increase in the number of disingenuous actions taken by market participants, including non-performance of valid contracts, in an effort to secure lower prices. These negative actions serve only to harm the long-term viability of the global hides and leather trading system, and must be avoided.
