Indian mills have signed contracts to export 4.6 million tonnes of sugar in the 2021/22 marketing year without government subsidies, a leading trade body said on Monday.

The exports would allow the world’s second-biggest sugar producer to trim stockpiles, though it could weigh on global prices.

India could export 6 million tonnes of sugar in the current year, down from last year’s 7.2 million tonnes, after New Delhi discontinued its sugar exports subsidy, the trade body said.