SOFTS-Arabica coffee posts 12% weekly loss on profit taking, Brazil weather

NEW YORK, Sept 19 (Reuters) - Arabica coffee futures on ICE fell sharply on Friday to accumulate a 12.7% weekly loss with forecasts for rain in parts of Brazil's coffee belt improving the outlook for the key flowering period in the world's top producer, and fuelling speculators' profit taking.

COFFEE

* Arabica coffee KCc2 settled down 15 cents, or 4.2%, at $3.4625 per lb.

* Dealers said the market had been pressured by funds' long liquidation against the backdrop of an improving crop outlook in Brazil.

* The market was also keeping a close watch on whether a 50% tariff on U.S. imports of coffee from Brazil would be maintained. The tariff has tightened supplies within the U.S. and driven up prices in the world's biggest consumer of the commodity.

* U.S. Representatives Don Bacon and Ro Khanna plan to introduce bipartisan legislation that would exempt coffee products from any tariffs imposed after January 19, 2025, the Washington Post reported on Friday, citing a copy of the draft legislation.

* Robusta coffee LRCc2 lost 7% to $4,135 a metric ton. The contract lost 10% in the week.

SUGAR

* Raw sugar SBc1 ​​settled up 0.08 cent, or 0.5%, at 15.46 cents per lb, having lost 2% in the week.

* Dealers' supplies are ample, with Brazilian mills opting where possible to use cane to produce the sweetener rather than biofuel ethanol.

* Favourable cane crop prospects for Asian producers including India and Thailand have also put the market on the defensive.

* White sugar LSUc1 rose 0.2% to $455.70 a ton.

* India's sugar exports are likely to fall below 800,000 tons this season, missing a 1 million-ton quota, as rising Brazilian supplies push global prices lower and undercut Indian shipments, trade and government officials said.

COCOA

* London cocoa LCCc2 settled up 45 pounds, or 0.9%, at 5,058 pounds per ton. The contract lost 1% in the week.

* New York cocoa CCc2 rose 0.3% to $7,229 a ton.

* The New York market could break support at $7,205 a ton and fall towards $6,826, Reuters technical analyst Wang Tao said.