Just an opinion for whatever it's worth .....
When you're in business you need to be looking forward and be able to accurately predict what the landscape is going to look like in a year or two. If you call it correctly and make the right moves today you survive. If you make an error in judgement it can put you under.
Most everything that i'm seeing is telling me that we have entered a deflationary economic phase that may last awhile. It means that commodity prices will drop and continue to drop for awhile. This could go on for years till it hits bottom and a new balance is achieved.
If your competitor can't see that he's going to make mistakes that could cost him his business. He might be able to lure your customer over but he won't be able to keep him without sustaining heavy losses.
What i would do is part company with your customer on the very best of terms.
In a few months or a year he may come back with his tail between his legs.
If not .... you just have to let it go and move on. What once was a profitable arrangement turned sour. That happens sometimes despite your best efforts.
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