White sugar fell to the lowest in more than five years following the rout in crude oil prices, while demand for the refined sweetener remains subdued.

White sugar for March delivery fell as much as 1.1 percent to $396.10 a metric ton, the lowest for a most-active contract since April 2009. The commodity traded at $398.20 at 2:07 p.m. on ICE Futures Europe in London. Crude oil stabilized this week.

The world sugar market was in surplus for four consecutive seasons through 2013-14, according to the International Sugar Organization. Supply also will exceed demand by 473,000 tons in the current season, while 2015-16 may see the start of a “new deficit phase,” according to the London-based organization.

Raw sugar for March delivery dropped 0.3 percent to 15.20 cents a pound on ICE Futures U.S. in New York, declining for a second day. Futures trading volumes were 21 percent higher than the average for the last 100 days for this time of day, according to data compiled by Bloomberg.