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SOFTS-Raw sugar prices rise, following oil higher

(Adds comment, updates prices) NEW YORK/LONDON, Aug 9 (Reuters) - Raw sugar futures rose on Friday, boosted by rising crude prices and worries about drought in sugar-producing regions of Asia.


* October raw sugar settled up 0.46 cents, or 4.0% at 11.89. The contract declined 1.3% in the week.

* "Thailand continues to have drought, and now there's been significant discussion about big downgrades there," said Shawn Hackett, president of Hackett Financial Advisors in Boca Raton, Florida. "This is the time of year that the market starts reacting to Asian production forecasts."

* Dealers said further gains in crude oil had helped the market to recover after the front month dipped to a low of 11.27 cents on Wednesday, its weakest since Oct. 1, 2018.

* Oil prices rose on Friday, supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest level since the financial crisis of 2008.

* A report showing a decline in the proportion of cane allocated to produce sugar rather than ethanol in Brazil's Center-South region was also supportive.

* The market remained on track, however, for a weekly loss of about 2.7% pressured by plentiful nearby supplies.

* October white sugar was up $8.10, or 2.6%, at $318.60 a tonne. The contract declined 1.6% on the week.


* September arabica coffee settled up 0.05 cent, or 0.1% at 97.45 cents per lb. The contract was down 0.9% in the week.

* Dealers said the market remained well supplied with the harvesting of another large crop in Brazil virtually complete.

* Brazilian coffee farmers have harvested 93% of expected production in 2019, as field work continues at a quicker pace than seen in the past, agribusiness consultancy Safras & Mercado said in a report on Thursday.

* September robusta coffee was down $14 a tonne, or 1.1% at $1,298 a tonne. The contract was down 1.2% in the week.


* December London cocoa was up 3 pounds, or 0.2%, at 1,780 pounds a tonne, underpinned by the weak sterling. The contract was still down on the week, falling 4.5 percent.

* The pound fell on Friday to match its lowest levels since January 2017 after data unexpectedly showed that British gross domestic product contracted in the second quarter for the first time since 2012.

* December New York cocoa rose $3, or 0.1% at $2,257 a tonne.

* Ivory Coast cocoa grinders had processed 455,000 tonnes of beans since the start of the season in October to the end of July, up 8% from the same period last season, data from exporters' association GEPEX showed on Friday.

(Reporting by Nigel Hunt and Jessica Resnick-Ault; Editing by Richard Chang)