LONDON, Nov 17 (Reuters) - Raw sugar futures fell on Thursday after hitting a seven-month high in the prior session on concerns over India supplies, while arabica coffee slid to a new 15-month low.
SUGAR
* March raw sugar fell 1.8% to 19.91 cents per lb at 1235 GMT, after climbing to a seven-month peak of 20.44 cents on Wednesday.
* Dealers said the market was technically overbought after its recent strong advance so the decline was not unexpected, while funds also appeared to be taking a breather after a recent buying spree.
* The market does not look set to collapse anytime soon, however, as traders believe raws supply will remain tight over the next 4-5 months because India will export mostly refined sugar, not raws.
* Also underpinning prices was short-covering linked to Indian sugar mills renegotiating and defaulting on contracts that had helped to spark the initial rise in prices.
* Indian mills have produced 2 million tonnes of sugar so far in the season that began on Oct. 1, the Indian Sugar Mills Association said, almost unchanged from a year earlier.
* March white sugar fell 1.9% to $534.30 a tonne.
COFFEE
* March arabica coffee fell 1.4% to $1.6520 per lb, having hit a 15-month low of $1.5430.
* Fitch Solutions said in a note the market might have further to fall near-term as global demand softens and supplies in top producer Brazil improve.
* The current weakness of the Brazilian real and Colombian peso will also continue to encourage U.S. dollar-denominated export sales, it said.
* Also weighing on coffee, ICE certified stocks rose to 485,369 bags as of Nov. 16, well above a 23-year low of 382,695 bags set on Nov. 3. There were 577,099 bags pending grading.
* January robusta coffee fell 1.2% to $1,770 a tonne.
COCOA
* March New York cocoa fell 1.2% to $2,473 a tonne.
* March London cocoa fell 0.5% to 1,946 pounds a tonne. (Reporting by Maytaal Angel and Nigel Hunt; Editing by Devika Syamnath)
