NEW YORK, April 19 (Reuters) - Cocoa futures on ICE London gained 14% in the week to 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 settled up 417 pounds, or 4.4%, at 9,835 pounds per ton, having soared 9.7% on Thursday. The contract earlier hit a record high of 9,980 pounds a ton.

* Data showed North American cocoa processing rose 3.6% in the first quarter from a year ago, miles ahead of market estimates for a 4%-8% decline.

* First-quarter cocoa processing in Europe and Asia was also stronger than expected, data 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 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 produce 65% of the world's cocoa.

* July New York cocoa rose 3.9% to $11,461 a ton, having closed up 9.6% on Thursday. It earlier hit a record $11,722 a ton.

COFFEE

* July robusta coffee settled up $18, or 0.4%, at $4,080 a ton, having set a record of $4,292 on Thursday. It gained 6% in the week.

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

* July arabica coffee rose 0.3% to $2.3185 per lb, having hit its highest since February 2022 at $2.4540 on Thursday.

SUGAR

* May raw sugar settled up 0.14 cent, or 0.7%, at 19.73 cents per lb, partly recovering after touching a 16-month low on Wednesday.

* Brazil's new sugarcane crop was projected to fall 8.5%, while India's sugar production is set to improve, said the USDA.

* 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 0.9% to $563.50 a ton. (Reporting by Maytaal Angel and Marcelo Teixeira Editing by Mark Potter and Shilpi Majumdar)