Coconut oil is extracted from the white flesh of coconuts, either dried (copra) or fresh. Refined coconut oil, the kind used most in food factories, is bleached and deodorised so it tastes neutral; virgin coconut oil keeps a coconut aroma. It is unusually rich in saturated fats, mainly lauric acid, which is why it is solid in a cool room and melts sharply at around 24°C.
That sharp melt is why it is used in ice cream, coatings and fillings: it stays firm when cold, then melts quickly and cleanly in the mouth without a waxy feel. It also resists going rancid better than most liquid oils.
On SeekSnack, coconut oil is part of Vanilla and Milk Flavoured Ice Cream in Chewy Mochi from Wall’s, listed alongside cream and butter.
