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SOFTS-Sugar slumps amid excess supplies, trade tensions; arabica climbs

(Updates prices and market activity; adds comments, NEW YORK to dateline)

NEW YORK/LONDON, Aug 2 (Reuters) - Raw sugar prices on ICE slipped on Friday as traders focused on lower oil prices and excess supplies, while arabica coffee climbed ahead of a weekend in which cold, potentially crop-damaging weather is expected in top grower Brazil.


* October raw sugar settled down 0.1 cent, or 0.8%, at 12.02 cents per lb, after hitting a July 23 low of 11.89.

* Prices were pressured by lower oil prices, which fell after U.S. President Donald Trump vowed on Thursday to impose additional tariffs on Chinese imports.

* Lower oil prices discourage Brazilian cane mills from producing ethanol, instead encouraging them to produce sugar.

* Sugar traders are still digesting signs of plentiful near-term supplies, such as massive recent deliveries of sugar against ICE futures contracts and large global stockpiles.

* Still, the contract gained 3.7% this week, aided by expectations of reduced future supplies.

* Analyst Green Pool raised its global sugar deficit forecast for 2019/20 to 3.67 million tonnes from 1.62 million, citing reductions in forecasts for Center-South Brazil and India .

* October white sugar settled down $1.90, or 0.6%, at $323.70 per tonne.


* September arabica coffee settled up 0.9 cent, or 0.9%, at 98.15 cents per lb, after slumping to a six-week low of 96.40 on Thursday.

* Prices rebounded despite pressure from a weaker Brazilian real, with speculators covering short positions ahead of a weekend in which frost-inducing cold weather is expected in parts of Brazil, dealers said.

* "Near freezing temperatures are possible across the far southwest this weekend, with a frost event possible for Parana and elevated portions of Sao Paulo," forecaster Radiant Solutions said in a note.

* Still, dealers expected the number of short positions to post an increase in the week, which would be shown in weekly commitment of traders data, due out later on Friday.

* Total open interest climbed on Thursday to a seven-week high of 290,863 lots, ICE data showed.

* On the week, prices fell 1.6%, with plentiful global supplies continuing to pressure the market.

* September robusta coffee settled up $5, or 0.4%, at $1,312 per tonne.


* September New York cocoa settled down $9, or 0.4%, to $2,320 a tonne.

* On the week, the contract fell 2.9%, as improving weather conditions in top grower Ivory Coast boosted expectations for its October-to-March main crop.

* September London cocoa settled down 1 pound, or less than 0.1%, at 1,822 pounds a tonne.

* The contract fell 0.2% on the week, with losses limited by the weaker pound. (Reporting by Ayenat Mersie in New York and Maytaal Angel in London Editing by Matthew Lewis)