LONDON, May 2 (Reuters) - Raw sugar futures traded on the ICE exchange fell for a fifth straight day on Friday, hitting fresh 3-1/2-year lows below 17 cents/lb on fading worries about supplies and concerns over the impact of shrinking global growth on demand.

"The combination of demand concerns and ample supply from Brazil is likely to continue to weigh on sugar prices," said Commerzbank.

SUGAR

* Raw sugar SBc1 ​fell 0.8% at 17.03 cents per lb at 1226 GMT, having hit its lowest since July 2021 at 16.97 cents.

* The United Nations' Food and Agriculture Organization (FAO) said earlier its sugar price index dropped 3.5% in April on fears over the uncertain global economic outlook.

* "We turn neutral (for ICE sugar) as production in both Brazil and India is set to grow meaningfully," said Citi in a monthly report.

* It sees prices settling at 19 cents per lb in three months time, down 2 cents from its previous forecast, and 20 cents in 12 months time, down 3 cents from a previous forecast.

* Citi also said it expects the global market to record a deficit of 4.8 million tons in the current 2024/25 season, but flip into a small surplus of 0.2 million tons in the upcoming 2025/26 season.

* White sugar LSUc1 fell 0.8% to $490.10 a metric ton.

COCOA

* New York cocoa CCc2 ​​rose 1.8% to $8,898 a ton, but headed for a weekly fall of more than 5%.

* "We expect lower prices to persist for ICE cocoa as grindings data continues to stay soft while production outside West Africa has been growing with increasing areas planted," said Citi.

* London cocoa LCCc2 rose 0.4% to 6,396 pounds per ton.

COFFEE

* Arabica coffee KCc2 rose 1.7% to $3.9105 per lb, having set a 2-1/2-month high of $4.1890 on Tuesday

* Citi said it sees coffee prices declining towards year-end as it still believes top producer Brazil could report strong production.

* Uganda's coffee exports nearly doubled in March from the same month last year, according to the agriculture ministry.

* Robusta coffee LRCc2 rose 2.9% to $5,274 a ton.

(Reporting by May AngelEditing by Frances Kerry)

((may.angel@thomsonreuters.com - https://x.com/ReutersAngelM;))