Declining sugar sales in India, the world's biggest consumer, has left the country with enough stocks until the next crop, the Indian Sugar Mills Association said on Tuesday, ruling out the need for more imports later in the year. Indian sugar sales are seen down 1 million tonnes from the start of the season in October 2016, at an industry conference in Geneva. He pegged the decline partly on higher domestic prices and the effect of demonetization, under which high-value banknotes were scrapped. 

Total Indian demand is seen at 23.8 to 24 million tonnes for the 2016/17 season, compared to typical annual demand of about 25 million tonnes. ISMA expects production for the season to total 20.2 million tonnes, just below its previous estimate of 20.3 million tonnes.

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