BANGKOK, Feb 11 (Reuters) - The premium on Thai raw sugar was quoted unchanged in thin trade on Monday as rising futures contract prices in New York kept buyers on the sidelines.

The premium on Thai raw sugar was still quoted at 162 points over New York prices for March shipment, traders said.

"Buyers knew that New York prices surged because of speculation and they realised we would have a sugar surplus this year, so they could wait for lower prices," one trader said.

The March open-outcry sugar contract <SBH8> jumped to 12.73 cents per lb, the highest close for sugar based on the spot daily charts since the middle of August 2006, due to fund buying.

Physical trade was likely to remain thin over the next week due to high prices and dealers said they expected the speculative momentum on the New York market may allow futures contract prices to rise much higher.

"Only a few containers of Thai raw sugar were shipped to our old customers such as Indonesia and Japan," another trader said.

The market was focusing on Indonesia, one of Thailand's key buyers which announced it would buy 110,000 tonnes of white sugar in March for its buffer stocks, traders said.

An import permit for 20,000 tonnes was given to state procurement agency Bulog and a permit for 90,000 tonnes to state trading firm Perusahaan Perdagangan Indonesia.

"We heard Bulog may buy gradually and would hold a tender for around 10,000 tonnes next week." he said. "But I don't think Thailand would win the tender as its prices are higher than India."

Indian consumer grade 100 percent ICUMSA white sugar was quoted at around $290 per tonne while Thailand's was quoted at least $30 per tonne higher, traders said.

ICUMSA measures the colour of sugar. The lower the ICUMSA, the higher degree fo whiteness (Reporting by Apornrath Phoonphongphiphat; Editing by Michael Battye) (([email protected]; +66 2 648 9738; Reuters Messaging: [email protected])) Keywords: THAILAND SUGAR/