By Julie Wernau

Raw sugar futures returned to their upward climb Monday morning, shrugging off steep falls in global markets tied to Britain's vote to exit the European Union.

Raw sugar for October rose 1.4% to 19.42 cents a pound on the ICE Futures U.S. exchange.

"After Friday's volatility, sugar has started the week in a more controlled manner with prices all comfortably in positive territory," Agrilion Commodity Advisers said in a note.

The sugar market has been climbing higher all year as the sugar trade anticipates back-to-back years in which demand for the sweetener will outstrip new supply.

Marex Spectron said in a note Monday that is still unclear if prices will rise enough to encourage countries that are holding sugar stocks to unload that sugar.

Two of the most important potential buyers--China and India--won't need serious imports until mid-2017, the firm said. China has massive stocks and India is expected to produce enough sugar that it won't need any imports until next year, the firm said.

In other markets, cocoa for September was down 1% as the British pound sold off, encouraging traders to buy cocoa in London where the contract is traded in sterling and sell it in New York.

The sterling-denominated price hit a fresh five-year high Monday.

Arabica coffee for September was down 0.5% at $1.365 a pound, frozen concentrated orange juice for September fell 1.6% to $1.6725 a pound and cotton for December was up 0.9% at 65 cents a pound.

Write to Julie Wernau at julie.wernau@wsj.com

(END) Dow Jones Newswires

June 27, 2016 11:30 ET (15:30 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.