LONDON, Jan 18 (Reuters) - Raw sugar futures on ICE slipped on Wednesday after hitting a 2-1/2 year high earlier in the session, while arabica coffee extended its recovery from last week's 1-1/2 year lows.

SUGAR

* March raw sugar fell 0.6% to 20.01 cents per lb at 1313 GMT, having touched a high of 20.25 cents.

* Dealers said the market should continue creeping higher, helped by concerns that excessive rainfall last September and October could curtail production in India this season.

* India, the world's second largest sugar exporter, has contracted to ship about 5.6 million tonnes of sugar since the government said late last year that mills could export up to 6.1 million tonnes by May.

* China, one of the world's biggest sugar buyers, imported 6.9% less sugar last December versus a year ago, data showed.

* March white sugar fell 1.4% to $553.30 a tonne.

COCOA

* March London cocoa fell 0.3% to 2,048 pounds per tonne.

* Asia's fourth-quarter cocoa grind, a measure of demand, fell 0.2% year-on-year to 230,806 tonnes, data showed.

* Dealers are awaiting fourth-quarter grind data from Europe and North America for further indications on the extent to which global economic weakness is affecting cocoa demand.

* March New York cocoa rose 0.3% to $2,648 a tonne.

COFFEE

* March arabica coffee rose 1.4% to $1.5315 per lb.

* The recent price retreat in arabica prices is spurring some demand, dealers said. They added, however, that gains remain capped by an improved outlook for top producer Brazil's upcoming arabica crop after good rains this season.

* March robusta coffee rose 0.1% to $1,896 a tonne. (Reporting by Maytaal Angel; editing by John Stonestreet)