diff --git a/conda/recipes/versions.yaml b/conda/recipes/versions.yaml
index 4adafa32..f256850c 100644
--- a/conda/recipes/versions.yaml
+++ b/conda/recipes/versions.yaml
@@ -123,7 +123,7 @@ pandas_version:
 pandoc_version:
   - '<=2.0.0'
 panel_version:
-  - '>=0.10.3'
+  - '>=0.12.7,<0.13'
 pillow_version:
   - '>=9.0.0'
 pydeck_version: