A bottle of red wine from Asda, currently on offer at £4.37 a bottle has been voted best in show at the prestigious Decanter awards.

Beating off 16,000 other wines from around the world that were blind tasted by 240 experts, the wallet-friendly La Moneda Reserva Malbec from Chile has come out on top of the "wines under £15 category", described as being "full of energy."

The award adds to an emerging democratisation of the wine industry, with the wine market in Eastern Europe and China expanding, and the recent championing of a bottle of English Sparkling Wine in a tasting by wine bar Noble Rot.

"Our sole purpose is to recognise and reward quality, this is what consumers all over the world are interested in," the Decanter chairman, Steven Spurrier, said. "We only award medals to wines in which consumers can have the utmost confidence."

This bottle of red wine has been voted one of the world’s best - and it’s under £5