Palm oil prices soars as US sets record biofuel target

Palm oil prices climbed past 4,000 ringgit, tracking gains in soyoil after the United States proposed a record 24.02 billion-gallon biofuel blending mandate for 2026—nearly eight per cent above 2025 levels. The U.S. Environmental Protection Agency on Friday unveiled a long-anticipated plan to increase domestic biofuel production and reduce reliance on imports, according to Bloomberg. […]