LONDON, Feb 19 (Reuters) - Arabica coffee futures traded on the ICE exchange rallied on Wednesday, recovering from a sharp slide that took them off their recent record peaks, while raw sugar steadied near two-month highs.

COFFEE

* Arabica coffee KCc2 rose 4.4% to $4.2270 per lb by 1410 GMT, having hit a 1-1/2 week low on Tuesday that took it further away from last week's record of $4.2995.

* Having corrected somewhat from a stellar rally that saw it hit 14 successive records earlier this year, dealers said arabica remains underpinned by the prospect of a smaller 2025/26 crop in top grower Brazil this year.

* There are warnings that dry conditions are expected in Brazil over the next week or so, which could further stress the upcoming crop, while the pace of decline in ICE-certified stocks KC-TOT-TOT is picking up, they noted.

* Consultancy Safras & Mercado said Brazil farmers had sold 88% of the 2024/25 crop so far, ahead of 79% at this time last year and also higher than the five-year average of 82%.

* Robusta coffee LRCc2 rose 1.6% to $5,811 a metric ton.

SUGAR

* Raw sugar SBc1 rose 0.4% to 20.60 cents per lb, having set a two-month high of 20.72 cents on Tuesday.

* Diminishing sugar production prospects in India are driving prices, with early mill closures sparking talk the world's No. 2 sugar producer will export just 700,000 tons this season, well short of the one million ton export quota.

* "The early mill closures in India are being blamed on dry conditions. World Weather Service is also saying drying in east-central and northeastern Brazil will eventually lead to sugarcane stress," said broker ADMISI in a note.

* White sugar LSUc1 rose 0.5% to $544.40 a metric ton.

COCOA

* New York cocoa futures CCc2 slipped 0.4% to $10,455 a ton, having closed up 1.6% on Tuesday.

* Mondelez MDLZ.O CEO Dirk van de Put said consumers will need to get used to chocolate that is 30% to 50% more expensive than it used to be "because that's what we're going to see" due to a supply crisis in Africa.

* London cocoa LCCc2 was little changed at 8,171 pounds per ton.

(Reporting by May Angel; Editing by Kirsten Donovan)

((may.angel@thomsonreuters.com - https://x.com/ReutersAngelM))