ICE July raw sugar futures jumped by as much as 5 percent to 14.44 cents a lb early on Monday, supported by a weaker dollar after global policymakers carved out an emergency rescue package for debt-laden nations.

ICE July raw sugar stood at 14.43 cents a lb, up 0.68 cent or 4.95 percent in volume of 5,516 lots at 0831 GMT, in a sharp upward correction after touching a one-year low on Friday.