The Malaysian Palm Oil Board (MPOB) has forecasted a 15.7% increase in crude palm oil (CPO) prices for 2022, averaging at 5,100 ringgit (1,157 U.S. dollars) per tonne, due to higher demand and disruptions in the sunflower oil supply chain from the Russia-Ukraine conflict. The board also anticipates a stabilization of CPO prices at 3,800 ringgit (862.6 U.S. dollars) per tonne in 2023, driven by higher palm oil production, improved weather conditions, and the availability of other vegetable oils. Despite challenges like labor shortages, MPOB expects a slight increase in CPO production to 18.50 million tonnes for 2022 and further to 19 million tonnes for 2023. Exports of palm oil and other palm-based products increased by 1.3% to 22.43 million tonnes for the January-November period, contributing to a 31.8% surge in total export revenue to 120.43 billion ringgit (27.34 billion U.S. dollars).