Penfolds owner Treasury Wine Estates says it is carefully increasing the prices of some luxury wines to claw back some of the extra $10 million in supply chain costs, with New Zealand sauvignon blanc wines led by its Matua brand one of the main areas to be affected.

Chief executive Tim Ford said on Wednesday there was a renewed push across the group to reinvigorate growth at a business that has been through a rough two years as heavy tariffs imposed by the Chinese government crushed its previously lucrative business in the communist state and the pandemic hit hospitality venues.