India's sugar stockpile to deplete by a quarter as exports rise

India is likely to start the 2016/17 marketing year with 6.7 million tonnes of sugar, 26.4 per cent lower than at the beginning of the current year, as rising exports will pull down inventories in the world's second biggest producer.

The higher Indian exports will put pressure on global prices, but harden the local market and help mills pay farmers at the support levels set by the state for sugar cane.