LONDON, Nov 16 (Reuters) - Raw sugar prices on ICE rose to
an 8-1/2 month high on Monday boosted by nearby supply tightness
while cocoa futures were also sharply higher.
* March raw sugar rose 0.44 cents, or 2.9%, to 15.40
cents per lb by 1303 GMT after climbing to a peak of 15.47
cents, the highest level for the front month since Feb. 25.
* Dealers noted the front month's premium to May <SB-1=R>
had been rising boosted by nearby supply tightness.
* "In the short term there is not much room for manoeuvre;
all exporters will be shipping as fast as they can, and all
importers will be postponing demand as much as they can," Marex
Spectron analyst Robin Shaw said.
* Dealers said the prospect of a poor crop in France
provided further support for prices.
* The market was also keenly awaiting news on India's export
policy with uncertainty about the extent to which government
support might be available given financial issues related to the
* March white sugar was up $11.20, or 2.75%, at
$418.00 per tonne.
* A total of 618,300 tonnes of white sugar has been tendered
against the December contract on ICE Futures Europe, exchange
data showed on Monday.
* Dealers said the inclusion of Algerian sugar may indicate
a lack of demand in the North African region.
* March New York cocoa rose $86, or 3.6%, to $2,451 a
* Dealers noted there was a lack of cocoa available to
tender against the December contract which had led to a
surge in its price of more than 12% on Monday.
* March London cocoa rose 51 pounds, or 3.2%,
to 1,659 pounds per tonne.
* March arabica coffee was up 2.4 cents, or 2.1%, to
$1.1460 per lb.
* January robusta coffee rose $26, or 1.8%, to
$1,436 a tonne.
(Reporting by Nigel Hunt. Editing by Jane Merriman)