LONDON, Nov 12 (Reuters) - Cocoa futures on ICE rallied on Tuesday, with the New York contract hitting its highest in nearly a year and a half on signs nearby supplies may be tightening. Raw sugar and coffee prices rose meanwhile.
* March New York cocoa rose $68, or 2.7%, to $2,581 a tonne by 1328 GMT, having hit its highest since mid-July last year at $2,590.
* March London cocoa rose 49 pounds, or 2.6%, to 1,907 pounds a tonne, having hit its highest since early October at 1,911.
* London December cocoa rose to a record 95 pounds a tonne above March cocoa LCCZ9-H0, indicating nearby supplies might be tight.
* New York December cocoa rose to a record $9 a tonne above March cocoa.
* “(The rally) has probably got quite a bit more in it. Cocoa for nearby delivery, I don’t think there is much, if any, (around)” said a dealer.
* Further out, however, the outlook for the main crop in top producer Ivory Coast remains generally favourable. Cocoa arrivals at ports in Ivory Coast reached 446,000 tonnes between Oct. 1 and Nov. 10, exporters estimated, up 5.7% from last season.
* Ghana, the world’s No. 2 cocoa producer, has sold nearly 200,000 tonnes of cocoa for the 2020/21 season, with prices including the new $400 per tonne living income differential.
* March raw sugar was up 0.04 cents, or 0.3%, at 12.61 cents per lb.
* Dealers said the market is range-bound for now, though production estimates for 2019/20 are being cut back in many producing regions, with most global deficit estimates now between 6-7 million tonnes.
* This means prices should eventually break out on the upside, they said, even if gains will be capped by producer selling of excess stocks from last season.
* Snack maker Mondelez will offer more treats in smaller portions and with less sugar, as the company behind Oreo cookies and Cadbury chocolate responds to consumer demands for healthier products.
* France’s farm ministry raised its production estimate for the country’s 2019 sugar beet harvest to 37.2 million tonnes from 36.9 million expected last month.
* December white sugar fell $3.60, or 1.1%, to $329.30 a tonne.
* March arabica coffee was up 0.90 cents, or 0.8%, at $1.1040 per lb, having fallen in the previous session as a fund short covering rally ran out of steam.
* Brazil exported 3.1 million 60-kg bags of green coffee in October, 14% less than in the same month a year earlier, as a smaller crop this year starts to impact monthly exporting volumes.
* Hedge funds and other money managers cut a net short position on arabica coffee on ICE Futures U.S. in the week ended Nov. 3 by 5,650 to 58,415.
* January robusta coffee rose $1, or 0.1%, to $1,376 per tonne.
* Vietnam, the world’s top robusta producer, exported 87,497 tonnes, or 1.46 million 60-kg bags, of coffee, in October, down 5.3% from September.
Reporting by Maytaal Angel; Editing by Emelia Sithole-Matarise