This work shows the results of research on the leather fern (Rumohra adiantiformis (G. Forst.) Ching) trade that it’s extracted at the Atlantic Slope region of Rio Grande do Sul. Besides being considered one of the greatest fern producing regions of Brazil, a significant number of local family farmers have in the extraction of this species their main income source. The results of this study allowed us to verify the existence of a very differentiated compensation in different agents involved, emphasizing the predominance of precarious and informal commercial relations, and the inexistence of representation and organization of the involved players. This situation is a consequence of the illegal and clandestine character of this activity, in view of the effective environmental legislation in Rio Grande do Sul State.