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Refined coconut oil is pressed from dried coconut meat (copra) and is almost always refined before human consumption. During the process of refining, much of the original coconut taste is removed, along with some of the micronutrients. Because copra is a cheaper raw material, refined coconut oil is also typically a lot less expensive than virgin coconut oil.
Coconut oil is rich in saturated fatty acids, especially lauric acid (about 50%) and myristic acid (about 20%). These fatty acids are so-called ‘medium-chain triglycerides’ (MCTs) because they are shorter molecules than the saturated fats commonly found in vegetable oils and animal fats (e.g. palmitic and stearic acid). This also explains why coconut oil has a far better health profile than its high content of saturated fats would suggest.