(Telegraph) - When Hong Kong scrapped all taxation on alcohol sales in 2008, it sent the price of investment wine into the stratosphere. Tax cuts on wine purchases are now set to happen in India, so will a new flood of buyers reverse recent price declines? Bordeaux first growths are the most traded commodity in the wine market – and the price has been slumping since March. The Liv-ex Fine Wine 50 index tracks these young wines, and the recent decline has shown no sign of stopping. The index has plunged by almost 23pc over the past year, but is still showing gains of 70pc over the last five years.