NEW YORK, April 15 (Reuters) - Cocoa futures in both London and New York settled higher on Monday, after scaling record highs, buoyed by a supply shortage, while coffee prices also rose.
COCOA
* July London cocoa rose 2.7% to settle at 8,873 pounds per metric ton, after hitting a record high of 8,954 pounds earlier in the session.
* Dealers said poor crops in Ivory Coast and Ghana in the current 2023/24 season led to a supply shortage.
* A lack of rain combined with heat last week in most of Ivory Coast's main cocoa regions could reduce the size of the April-to-September mid-crop and damage its quality, farmers said on Monday.
* They added a shortage of beans in Ivory Coast led to a drop in the cocoa grind in the world's top producer.
* First-quarter cocoa grind data for Europe and North America is due to be issued on Thursday with year-on-year declines expected.
* July New York cocoa settled up 0.8% at $10,559 a ton, after setting a record peak of $10,738.
COFFEE
* July robusta coffee settled up 2.5% at $3,949 a metric ton after peaking at $3,975, the highest level since the current form of 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.
* July arabica coffee settled 2.9% higher at $2.2685 per lb, after hitting an over 18-month peak of $2.3055.
* Dealers noted funds have raised a net long position in arabica coffee in the week to April 9.
SUGAR
* May raw sugar settled down 2.1% at 20.02 cents per lb.
* Dealers said a report that India had ruled out allowing exports in the 2023/24 season ending October provided some support for prices.
* Forecasts for India to receive above average monsoon rainfall in 2024, however, improved the outlook for crops.
* May white sugar, which expired on settlement, fell 2.2% to $615.20 a metric ton. (Reporting by Nigel Hunt, additional reporting by Shariq Khan; Editing by Sonia Cheema, David Evans and Shilpi Majumdar)
