This season's grape shortage is the worst in at least 10 years

French winemakers Pernod Ricard believes New Zealand's vintage could be down nine-million, nine-litre cases on last year.

Chief Executive Bryan Fry says that's a staggering number of unmet demand - and a significant financial hit.

He says grapes were hurt by bad weather in November and December, and near-drought in the three months before harvest.

Pernod is one of New Zealand's biggest wine producers and exports its vintage to 80 markets.

Like Villa Maria - the company says it will be reviewing the need for a price hike for the season.