LONDON, Nov 26 (Reuters) - London cocoa rose on Thursday,
heading back towards Tuesday's two-month highs amid tight nearby
supplies, though volumes were thin with U.S. markets closed for
the Thanksgiving holiday.
* March London cocoa ended up 36 pounds, or 2%, at
1,860 pounds per tonne.
* Cocoa has benefited from falling exchange stocks after
chocolate maker Hershey swooped on ICE exchange beans.
* Top producers Ivory Coast and Ghana are meanwhile holding
out for higher prices amid a standoff with industry players who
are limiting purchases amid weak demand and after the west
African nations introduced a cocoa price premium.
* The Ivorian cocoa regulator has alleged U.S. chocolate
maker Hershey's move to buy cheap beans from the ICE exchange is
an attempt to derail its plans to increase farmers' income
through the premium.
* Dealers said cocoa has probably not yet seen its
* March New York cocoa settled down $61, or 2.2%,
at $2,724 a tonne on Wednesday after rising on Tuesday to a
nine-month high of $2,821.
* March white sugar ended up $3.40, or 0.9%, at
$404.10 a tonne, with volumes thin due to the U.S. holiday.
* March raw sugar fell 0.27 cents, or 1.8%, to settle
at 14.77 cents per lb on Wednesday as the market awaited news
from India about potential export subsidies for the 2020/21
* "The market has now erased the mid-November jump in prices
and the March premium. (It) seems to have accepted that India,
among others, can fill the 'hole' in early 2021 raws supply,"
said Commonwealth Bank of Australia in a note.
* March robusta coffee ended up $35, or 2.5%, at
$1,411 a tonne.
* Top robusta producer Vietnam's domestic coffee prices
edged slightly lower on Thursday from a week earlier as supplies
built up from the ongoing harvest.
* March arabica coffee settled up 1.25 cents, or
1.1%, at $1.1715 per lb on Wednesday.
* Dealers said dry weather in top producer Brazil remained a
supportive factor, denting next year's crop outlook.
(Reporting by Maytaal Angel; Editing by Susan Fenton and David