The following quotes are taken from an article printed in The Independent, a UK newspaper.
"Bordeaux in crisis as buyers lose their bottle."
"After several years of speculative inflation, the bubble in the prices of the finest red wines in the world may be about to burst."
"By early February the market would normally be buzzing with gossip and pre-negotiation negotiations. Not this year."
"'The telephone is not ringing any more. It's almost got to the point where we have to ask our friends to call,' said one chateau manager."
"One leading Bordeaux wine broker said: 'The market is paralysed, immobile. It is clear - and we've been begging the producers to understand this.'"
"There was feverish demand from 'new' customers in Asia (mostly Japan and South Korea). There was also speculative buying by City traders, hoping to cash in on the increasing price of the maturing wine."
"The danger is that, while prices remain high, Bordeaux may lose part of its traditional markets in Europe and the US - and even its new market in Asia - to the New World producers now turning out wines of great quality in the claret style."
So what's the story? The content is little different to that of a number of media reports we have seen in recent months.
The above report, however, isn't from recent months - it's actually from 10 years ago, almost to the day.
You can read the full version here.
