KUALA LUMPUR, Oct 14 (Bernama) -- OSK Securities said palm oil plantationstocks remain "underweight" in its view as it believes the outlook for theprice of crude palm oil (CPO) remains bearish."The CPO price could stage a rebound during the upcoming lowproduction season... However, so long as (production) levels remain above1 mln mark, (the sector's) ability to sustain a price recovery remainsquestionable," OSK said in a research note.OSK said the CPO price was at 860 rgt per ton when the inventory levelwas above 1 mln ton mark in Oct 2001. This is 59 pct below prevailingmarket price, it said."This indicates much of the expectation of strong demand due toChina's imports could have been discounted. We are also of the opinionthat the El Nino factor is overhyped, given that a mild El Nino will nothave a negative impacton production," it said.OSK said it also maintaining its "neutral rating" on the plantationsstocks it covers as they trade at OSK's fair values for them or close tofair values.At 10.29 am, PPB Oil was down 0.02 rgt at 3.36, IOI Corp down 0.10 at9. 15, Golden Hope down 0.02 at 4.00, while Kuala Lumpur Kepong wasuntraded.(1 usd = 3.8 rgt)