Indian Sugar Exim Corporation, the trading arm of private and co-operative sugar mills, will soon contract 100,000 tonnes of the sweetener for exports in the season beginning October, its chief said on Monday.

"We are willing to sell at a loss to cut large domestic stocks and help raise prices," said Kallappa B Awade.

India announced rules earlier this month making it compulsory for sugar producers to ramp up exports to at least four million tonnes in the coming crushing season, to cut stockpiles as the country is set to produce a surplus for a sixth straight year.