Chinese beef importers are trying to renegotiate prices that were previously agreed upon on dozens of shipments of Brazilian beef.
China says the values are now too high, reported Reuters.
Folha de S.Paulo, a Brazilian daily newspaper, reported some Chinese importers are refusing to pay for beef shipments that have already arrived in China, and are seeking a discount.
The outlet said some of the companies recently cleared to export to Asian markets are now facing financial difficulties because they invested in new infrastructure to export, and are not being paid by China.
Some Brazilian exporters are trying to divert shipments that have not yet arrived in China, to other potential destinations such as Iran.
