Minola eyes 26% of cooking oil market

MANILA, Philippines -  The CIIF Oil Mills Group is set to launch an aggresive marketing campaign aimed at expanding the market share of its cooking oil brand Minola from 19 percent last year to 26 percent this year.

According to CIIF Oil Mills president and chief executive officer Jesus L. Arranza, Minola posted a 38-percent increase in revenues last year to P1.8 billion.

Minola was also able to increase its market share to 19 percent from about 17 percent in 2008 when the brand had total sales of P1.3 billion. Minola sold close to 100,000 metric tons of cooking oil last year, Arranza said.

This year, CIIF is launching an aggressive marketing and promotional campaign that will include a series of TV commercials and promos for Minola.

CIIF will also put  promotional booths in the markets (which accounts for almost 70 percent of Minola cooking oil sales) where Minola buyers will get to draw prizes that are related to cooking.

Minola is sold in “dip-outs” in the market.

One of Minola’s promos is a new “Pasobra” pack that has 20 percent more content.

Minola is also distributing modern dispensing machines in supermarkets for dip-outs and bulk buyers.

The consumer packs account for 10 percent t0 15 percent of Minola’s sales, with the rest coming from industrial and institutional sales.

Minola has also purchased Effytec machines which employ a new technology that promotes more efficient production of packaging in roll-form, thus, significantly cutting the operating cost of the company.

The new machines are being used in Minola’s plant in Cagayan de Oro.