The invention provides an inexpensive liquid oil having both particularly high liquid properties and oxidation stability and a solid fat containing a large amount of PPP at high yield, from inexpensive palm based oil and fat as a raw material. A palm based oil and fat containing saturated fatty acids in an amount of 70 wt% or less based on the amount of constituent fatty acids is used as a main raw material, the palm based oil and fat is direct-transesterified until the oil and fat obtains an SSS/S2U ratio of 0.5 or more and an S2U content of 14 wt% or less, while keeping the SSS content at 31 wt% or less during the reaction, and then a liquid oil and a solid fat are separated, or an oil and fat containing the palm based oil and fat as a main raw material is direct-transesterified while applying external force to move the oil and fat, and then a liquid oil and a solid fat are separated while keeping the solid fat content at more than 1 wt%, thereby obtaining a liquid oil having an SU2/UUU ratio of 1.9 or less, an SSS content of 2 wt% or less, and a triglyceride bonded with palmitic acid at 2-position content of 10 to 30 wt% and a solid fat containing a large amount of PPP.
