Minola oil maker eyes exports to China, Middle East

Sequestered CIIF-Oil Mills Group will ramp up exports of the Minola cooking oil brand this year by tapping more overseas retail markets. CIIF-Oil Mills President Jesus L. Arranza said in a statement the firm wants exports to contribute a tenth of total Minola sales this year. Last year, it exported the equivalent of only 2 percent of Minola's total sales. Minola marketing chief Mamerto Bernardo said CIIF-Oil Mills was in talks with a Chinese company to allow Minola to penetrate the huge market. "We are now talking to a Chinese company, which is an importer and distributor. It will sell Minola in supermarkets and restaurants in China," Bernardo said. Arranza said Minola has huge potentials in China because it is cheaper compared with sunflower, soya oil and peanut oil, which the Chinese are using now. Aside from China, the firm also plans to tap the Middle East, where there are a number of Filipino communities. Minola has started negotiations with a distributor there, Bernardo said. The two markets will expand Minola's roster of export destinations that includes Japan, Hong Kong, the US and Canada, where it has small shipments of Minola margarine. — BusinessWorld