LONDON, April 19 (Reuters) - Cocoa futures on ICE hit record peaks near 10,000 pounds per metric ton on Friday as this year's blistering rally picks up pace, with the latest surge linked to signs demand remains strong despite soaring prices.

COCOA

* July London cocoa was up 0.3% to 9,450 pounds a metric ton at 1310 GMT, having soared 9.7% on Thursday. The contract earlier hit a fresh record of 9,947 a ton.

* Data out late Thursday showed North American cocoa processing rose 3.6% in the first quarter from a year ago, miles ahead of dealer forecasts for an 8% decline.

* First quarter cocoa processing in Europe and Asia was also much stronger than expected, data released early Thursday showed.

* Cocoa prices have tripled in the past seven months and trader and supply chain services company Czarnikow said prices would likely remain elevated for about a year and a half, with market talk of a fourth consecutive deficit next season.

* It noted that farmers in Ivory Coast and Ghana were not set to fully benefit from the record global prices for another 18 months, due to the way their governments market cocoa.

* This means they are unlikely to invest in the crop and produce more. The two countries jointly produce 65% of the world's cocoa.

* July New York cocoa fell 1% to $10,928 a ton, having closed up 9.6% on Thursday. It earlier hit a record $11,578 a ton.

COFFEE

* July robusta coffee rose 1.2% to $4,112 a metric ton, having set a record of $4,292 on Thursday.

* Farmers in top-producer Vietnam are holding onto stock as they expect even higher prices, while the outlook for next season's crop continues to worsen thanks to dry conditions.

* July arabica coffee fell 0.6% to $2.2955 per lb, having hit its highest since February 2022 at $2.4540 on Thursday.

SUGAR

* May raw sugar fell 0.3% to 19.54 cents per lb, after touching a 16-month low on Wednesday.

* Thailand's sugar output is expected to drop 21.2% in the current 2023-2024 production year, the Office of Sugar and Cane Board said.

* August white sugar fell 0.5% to $565.80 a ton. (Reporting by Maytaal Angel Editing by Mark Potter)