British merchants are selling fine wine back to counterparts in Bordeaux and exporting it to Asia as domestic demand for the most expensive wine slumps and sterling weakens against the euro.

Tom Hudson, a director at Farr Vintners, the biggest Bordeaux specialist in the UK, says: “The trade within the UK has slowed down dramatically . . . we’re relying heavily on exports now.” Mr Hudson said Asia had replaced the US as a key export market.