India experiences below-average rainfall, causing the price of white sugar to rise to a 10-month high.

Due to concerns that below-normal rainfall may reduce production, white sugar futures prices climbed to their highest level since September last year. India is the world's second largest sugar-producing country after Brazil. On Thursday in the London market, the most active white sugar contract rose by as much as 1.4%, but later gave back most of the gains. New York market raw sugar futures also rose by as much as 1.2%, but later erased the gains.