SOFTS-Cocoa prices edge up after hitting 1-1/2 month lows amid demand worries

LONDON, Jan 12 (Reuters) - Cocoa futures on the ICE exchange edged up on Monday after earlier hitting their lowest in more than a month amid concerns over flailing demand for the chocolate ingredient.

COCOA

New York cocoa CCc1 edged up 0.6% to $5,378 a metric ton at 1411 GMT, having earlier hit a 1-1/2 month low of $5,215 a ton. The contract settled down 12% on Friday.

Dealers said the market is concerned that the European, North American and Asian fourth-quarter grind data, scheduled for release on Thursday, will show demand continues to weaken.

They added that it appears New York cocoa's addition to the Bloomberg Commodity Index (BCOM) has been largely priced in, with index funds securing their purchases via increased trade as settlement (TAS) activity.

Independent analyst Judith Ganes said the market is retreating sharply after getting "wrapped up in (New York cocoa's) return to the BCOM and (in the) slowed (Ivorian port) arrivals data, forgetting that the Ivory Coast government had taken actions last year to intentionally slow (cocoa bean) flow to the port".

London cocoa LCCc1 rose 0.4% to 3,927 pounds a ton, having hit a 1-1/2 month low of ​​3,779. The contract settled down 10.3% on Friday.

COFFEE

Arabica coffee KCc1 fell 0.7% to $3.5515 per lb, having settled down 3.9% on Friday.

Broker ADM ISI cited reduced fears over supplies from Colombia, the world's third largest bean grower.

U.S. President Donald Trump will meet with his Colombian counterpart at the White House early next month. The two leaders spoke by phone following Trump's threats of military action against the Latin American nation.

Elsewhere, coffee exports from Uganda, the world's 10th largest producer, jumped 60.3% year-on-year in November.

Robusta coffee LRCc2 was little changed at $3,902 a ton, having closed down 0.6% on Friday.

SUGAR

Raw sugar SBc1 fell 0.6% to 14.80 cents per lb, having settled down 0.5% on Friday.

Broker and consultant Michael McDougall said sugar has a positive bias near term as speculators might have to sharply reverse their large short positions - or bets on price falls - if geopolitical tensions in key oil producers Venezuela, Iran or Russia escalate.

White sugar LSUc1 fell 0.8% to $422.60 a ton.