SOFTS-Coffee and cocoa prices hit multi-month lows

LONDON, April 9 (Reuters) - World coffee and cocoa prices hit fresh multi-month lows on Wednesday as U.S. President Donald Trump's trade tariffs on dozens of countries took effect, including massive 104% duties on Chinese goods.

Trump's punishing tariffs have shaken the global trading order, raised fears of higher prices, weaker demand and potentially a global recession. Trillions of dollars have been wiped off equity markets since they were introduced.

"In our view, the bull market (in coffee) is likely over unless a fresh fundamental catalyst — such as a frost — emerges. The breathless headlines about tariffs will likely continue," said broker and consultant Michael J Nugent.

He said that cash-strapped, demoralised consumers were already set, pre-tariffs, to tighten their belts as the blistering rally that sent coffee prices to record levels gets passed down to them.

Robusta coffee futures LRCc2 traded on the ICE exchange and seen as a global price benchmark fell 2% to $4,699 per metric ton at 1002 GMT, having hit its lowest in more than four months at $4,659. Arabica coffee KCc2 fell 2% to $3.3435 per lb, having touched its lowest in more than two months.

At the epicentre of the rout on Wednesday were U.S. treasuries and the dollar, as many now fear Trump's tariffs will be severe enough to force the Federal Reserve into cutting interest rates in a bid to boost growth.

A weaker dollar makes dollar-priced commodities cheaper for non-U.S. investors, but it failed to boost buying on Wednesday.

London cocoa LCCc2 hit a five-month low of 5,612 pounds a metric ton, though it later recovered to trade up 0.3% at 5,797 a ton thanks to fears over poor prospects for the upcoming mid-crop in top grower Ivory Coast.

New York cocoa CCc1 hit its lowest in five months at $7,613 a ton but later traded up 1.2% at $7,810.

Data on the first quarter cocoa grind, a measure of demand, in Asia, Europe and North America will be released next week.

In other soft commodities traded, raw sugar SBc1 fell 0.7% to 18.18 cents per lb​​, having hit a one-month low of 18.16 cents, while white sugar LSUc1 fell 0.5% to $520.40 a ton, having also hit a one-month low.