(Updates prices, adds detail)
NEW YORK/LONDON, Nov 17 (Reuters) - Raw sugar prices on ICE touched an 8-1/2-month high on Tuesday, buoyed by signs the market is growing tighter and moving towards a wide deficit this season, before pulling back later in the day.
Cocoa and coffee also rose.
* March raw sugar dropped by 0.17 cents, or 0.5%, to settle at 15.31 cents per lb, pulling back after earlier peaking at 15.66 cents, its highest since mid-February.
* The International Sugar Organization is forecasting a global sugar deficit of 3.5 million tonnes in the 2020/21 season with the production outlook downgraded. It previously forecast a deficit of only 724,000 tonnes.
* Dealers said they now expect supply tightness at least until the Brazilian harvest next year, regardless of what the Indian government decides to do about supporting sugar exports this season.
* India has yet to announce its export policy and there are fears financial support might be limited.
* ICE sugar speculators cut their net long position by 954 contracts to 190,429 in the week ended Nov. 10, data showed.
* March white sugar was down $6.80, or 2%, at $414.10 a tonne, having also hit an 8-1/2 month peak.
* March arabica coffee settled up 0.75 cents, or 0.6%, at $1.195 per lb, the highest since mid-September.
* Dealers said prices were being boosted by hurricane Iota, which is devastating central America, a major coffee-growing region.
* ICE coffee speculators switched to a net short position of 304 contracts in the week ended Nov. 10, cutting 2,906 contracts, data showed.
* U.S. green coffee stocks fell by 264,937 bags to 6.1 million 60kg bags by the end of October.
* January robusta coffee settled down $24, or 1.7%, at $1,416 a tonne, having hit its highest since early September.
* March New York cocoa settled up $82, or 3.4%, to $2,517 a tonne, underpinned by tightness in ICE warehouse stocks CC-TOTAL-TOT, improved demand prospects and unrest in top producer Ivory Coast.
* New York cocoa speculators trimmed their net short position by 503 contracts to 6,275 in the week ended Nov. 10.
* March London cocoa settled up 48 pounds, or 2.9%, to 1,704 pounds per tonne.
* December arabica coffee settled up 0.55 cents, or 0.5%, at $1.162 per lb.
* March arabica coffee settled up 0.75 cents, or 0.6%, at $1.195 per lb .
* November robusta coffee settled down $23, or 1.6%, at $1,403 a tonne.
Reporting by Maytaal Angel, Additional reporting by Jessica Resnick-Ault; Editing by David Goodman and Sam Holmes
Our Standards: The Thomson Reuters Trust Principles.