The CIIF-Oil Mills Group, the Philippines biggest coconut oil miller, is eyeing the retail markets of China and the Middle East as it seeks export receipts to hit over US$2 million this year.

Jesus L. Arranza, president and chief executive officer of CIIF- Oil Mills, said Monday that the CIIF will launch an aggressive marketing campaign to introduce Minola cooking oil in foreign retail markets.

Minola is the leading cooking oil brand in the Philippines.

"Our export is roughly about 2 percent only of Minola's total sales. This year, we are aiming for 10 percent contribution of exports in total Minola sales," Arranza said in a press statrement.

The government-owned CIIF sold 100,000 metric tons of cooking oil last year and pulled in 1.8 billion pesos (US$385.8 million) in revenues. Export receipts only hit 36 million pesos (US$771,000).

CIIF started exporting Minola in 2008 to Japan, China's Hong Kong, and the United States.

Arranza said Minola has a huge potential in China given that coconut oil is cheaper than the widely-used soya oil and peanut oil.

Aside from China, Arranza said CIIF is also eyeing to distribute Minola in the Middle East as it's home to a big Filipino community.

Mamerto Bernardo, Minola marketing manager, said the company is now talking to a China-based trading firm which is interested to sell Minola in supermarkets and restaurants in China.

This Chinese company, he said, is important because it is familiar with the market, so it can surely develop the proper channels for Minola there.

Minola cooking oil, said Arranza, is also getting noticed in countries where the people are already aware of the health benefits of virgin coconut oil, particularly Japan.

To capitalize on the growing popularity of coconut oil, he said, the company will be participating in more trade shows and expos in the international market.