Hong Kong has done away with their 40% import duties at the end of February, Thailand should take a hint from this, and reduce their outlandish 400% tax on imported wine, they would sell a much greater quantity of wine and in time, do away with gray market and black market wine trade.
The wine markets have soared as Asian and Russian collectors are hoarding vintage wines. The most disturbing news is that hedge funds, investment banks and others are buying wines to hold and sell at a later date at a higher profit.
