Introduction to Coconut Oil and Its Uses Coconut oil is a natural oil that is extracted directly from the meat of mature coconuts. This oil has been in use for centuries especially in tropical countries such as India, Philippines, and Sri Lanka. It is known for its multipurpose usage, including medical uses, cooking, and cosmetics. Coconut oil is made up of about 92% saturated fats, which makes it a stable oil that does not easily become rancid and lasts longer than other oils.