NEW YORK, April 11 (Reuters) - Cocoa futures in both London and New York set record highs on Thursday as the market continued its relentless rally fuelled by a supply shortage.

Robusta coffee rose to a 16-year peak while arabica coffee hit an 18-month high.

COCOA

* July London cocoa settled 108 pounds, or 1.3%, higher at 8,213 pounds per metric ton after hitting a record high of 8,354 pounds earlier in the session.

* Dealers said poor crops in Ivory Coast and Ghana in the current 2023/24 season had led to a supply shortage.

* Ghana is in talks with traders to postpone the delivery of at least 150,000 to 250,000 tons of cocoa until next season, Bloomberg reported on Thursday.

* July New York cocoa rose 0.2% to $9,891 a ton after setting a record peak of $10,156.

COFFEE

* July robusta coffee settled $75, or 2%, higher at $3,790 a ton. It hit $3,851/ton earlier, the highest since the contract started trading in 2008.

* Dealers said tight supplies in Vietnam and concerns about the crop outlook in the world's top robusta producer remained the main supportive factors.

* Traders in Vietnam said lack of water for irrigation in the growing areas was leading to crop concerns.

* "There was almost no rain. If the lack of water for irrigation continues, coffee output in the 2024/25 crop may decrease sharply compared to the current crop," the Mercantile Exchange of Vietnam said in a note this week.

* July arabica coffee rose 2.2% to $2.1735 per lb, having hit an 18-month high of $2.1890 per lb.

* Arabica prices have benefited from robusta rally with roasters boosting arabica share in blends.

SUGAR

* May raw sugar settled 0.61 cent, or 2.8%, lower at 20.85 cents per lb after slumping to a one-month low of 20.81 cents.

* Dealers said forecasts for a normal monsoon in India this year had added to the bearish mood.

* Brazil's industry group UNICA will release production data for second half of March on Friday at 1500 GMT.

* May white sugar fell 0.7% at $628.10 a ton. (Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Shinjini Ganguli, David Evans and Krishna Chandra Eluri)