Cocoa posted record gains on Tuesday in London amid concerns that Ivory Coast supplies were declining and that the bean quality will deteriorate.

Cocoa futures for May delivery increased by 1.1 percent, or 14 pounds, to 1,344 pounds ($2,663) a ton on London Liffe exchange.

Ivory Coast and Ghana, producer of about 70 percent of cocoa supply, experienced drier and hotter weather than normal in January which adversely affected cocoa crops.

Cocoa supply was forecasted to decline by 32,000 metric tons short of demand in the 2007-08 seasons.

Robusta coffee dropped after rallying for six days in London trading.

Coffee for May delivery dropped by 1.4 percent, or $37, to $2,545 a metric ton.

Sugar for May delivery increased by 1.5 percent, or $5.70, to $381.70 a ton.

Global production for October 2007 to September 2008 was forecasted to surpass consumption by 9.309 million tons.

Ghana Coffee