White Sugar Advances to Nine-Month High on Brazil Crop Concern

White sugar futures climbed to the highest price since January in London as rains cut production in Brazil, the world’s biggest producer, and on investor concern that India may cap exports to boost domestic supplies.

Output in Brazil’s Center South, the country’s biggest producing-region, tumbled 30 percent in the first half of October from the same period a year earlier to 26.1 million metric tons, industry association Unica said on Oct. 28, citing rainfall at the beginning of the month. Production declined 4 percent from the previous two-week period. Stockpiles in India, the second-largest grower, are about 4 million tons, compared with the nation’s preferred level of 10 million tons, according to Rabobank International.