* Butter actively traded, shrug off rallying futures

* Powder prices slip in Asia on high supply

By Lewa Pardomuan

SINGAPORE, June 4 (Reuters) - Asian cocoa butter ratios hovered near their highest level since December this week on purchases from chocolate makers, while high stocks pushed down powder prices to below $2,000 a tonne, dealers said on Wednesday.

Butter ratios were offered at 2.50 times London futures

0#LCC: , unchanged from two weeks ago, although recent deals were mostly struck at 2.40 to 2.45 times. Ratios in Europe were quoted higher at 2.58 to 2.60 times London. COCOA/ASIA1

Chocolatiers had waited for the ratio to drop after Easter celebrations, but butter's resilience has caught them by surprise, prompting the recent round of purchases.

The ratios also defied rallies in London futures because of the underlying demand. Futures and ratios usually move in opposite directions.

London cocoa futures LCCc2 have gained about 12 percent this year on expectations of a global bean deficit and concerns over weather and prospects for West African main crops. SOF/L

"The ratios seems to be on the uptrend. Buyers are coming back but grinders also know that powder prices are very weak," said a dealer in Singapore. "The only way they can cover the operational costs is by selling butter at high prices."

When ground, cocoa beans yield roughly equal parts butter, which gives chocolates their melt-in-the-mouth texture, and powder - used in cakes, biscuits and drinks. Grinders do not reveal the size of their butter or powder stocks.

Powder prices slipped to between $1,400 and $1,500 a tonne from $1,600 two weeks ago. High quality powder also fell to between $1,800 and $1,900 a tonne from $2,000.

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"Butter is actively traded. I think the ratios will be very well supported even though futures in London are high," said another dealer in Singapore.

"On the other hand, people have problem selling powder. Even if you want to sell powder at $1,500 or $1,600, you can't move volumes. But for butter, you can sell 100 or 200 tonnes easily."

Chocolate sales normally surge in the main consuming regions of Europe and North America during the key celebrations of Christmas, Valentine's Day and Easter, but demand has also grown in Asia, as an emerging middle class consumes more chocolate, biscuits and drinks.

U.S. Easter confectionery sales surged 6 percent, higher than expected, with chocolate eggs and bunnies leading the surge during the second biggest candy-selling holiday, the National Confectioners Association (NCA) said on Tuesday. ID:nL1N0OK1RP

WEEK AHEAD

Butter ratios could trade at the current level next week, but grinders may reduce powder prices to attract buying.

(Editing by Himani Sarkar)

((lewa.pardomuan@thomsonreuters.com)(+65 68703834)(Reuters Messaging: lewa.pardomuan.thomsonreuters.com@reuters.net))

Keywords: COCOA PHYSICALS/