The Philippines has plentiful stocks of sugar as it enters into a new crop year this month and thus has no immediate plans to import any additional volume of the sweetener, the chief of the industry regulatory agency said on Thursday.

"At this very moment, as the milling season starts, we have very ample two-month buffer stocks. For crop year 2023/24, (importation) is not yet on the table," Sugar Regulatory Administration chief Pablo Luis Azcona told reporters on the sidelines of a business forum.

(Reporting by Enrico Dela Cruz)