Far from facing a wine glut, Australia is heading for a new shortage in as little as four years, according to leading Western Australian producer Palandri.

Head of winemaking operations Gordon Grant said this was already happening with white grape varieties and reds moving in the same direction.

"We are heading back into short supply. The industry has to start telling bankers to support planting," Grant said.

Palandri, based at Margaret River produces between 70,000 and 90,000 cases a year for domestic and export sales. It is listed on the London stock exchange's alternative investment market.