London cocoa hits two-week high while raw sugar also climbs
LONDON, Oct 31 (Reuters) -London cocoa futures hit a two-week high on Thursday, boosted partly by financial problems in second-biggest grower Ghana, while raw sugar prices also climbed.
COCOA
* March London cocoa LCCc2 was up 0.6% at 5,416 pounds a metric ton by 1316 GMT after touching a two-week high of 5,448 pounds.
* Dealers said financial problems continued to disrupt the purchasing of cocoa from farmers in Ghana.
* Cocoa growers in Ghana filed a complaint with state regulator Cocobod on Thursday listing key environmental and social issues, including a demand for a "living income" for farmers.
* The processing sector in both Ivory Coast and Ghana also continued to struggle with declining grinds.
* Ivory Coast's cocoa grind fell 14.2% year on year in September to 54,984 metric tons, data from exporter association GEPEX showed on Thursday.
* December New York cocoa CCc1 rose by a marginal 0.01% to $7,392 a ton.
SUGAR
* March raw sugar SBc1 gained 1.8% to 22.61 cents per lb after setting a two-week peak of 22.82 cents.
* Dealers said the market's focus remained on rains in Brazil, which could curtail cane crushing in the current season but boost the outlook for next year's crop.
* December white sugar LSUc1 rose 1.3% to $577.50 a ton.
COFFEE
* January robusta coffee LRCc2 fell 0.25% to $4,442 a ton, losing some of the previous session's gains.
* Dealers said they were keeping a close watch on whether Tropical Storm Trami had any impact on the robusta harvest in Vietnam, which should start to gather pace next month.
* The storm, which made landfall in Vietnam on Sunday, brought heavy rains in the country's coffee-growing area.
* "There was concern that rains may disrupt harvesting activities, but farmers have just harvested around 5% of the crop so the impact is minor," said a trader based in the coffee belt.
* December arabica coffee KCc1 lost 0.9% to $2.4745 per lb.
Reporting by Nigel Hunt
Editing by David Goodman
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