The present specification relates to the production of cotton plants and seeds and oil prepared therefrom having elevated levels of oleic and reduced levels of palmitic and linoleic acids. Furthermore, cottonseeds having low levels of cyclopropane and/or cyclopropene fatty acids and/or reduced levels of gossypol are described herein. The specification also describe FatB and CPA-FAS nucleotide and amino acid sequences derived from cotton facilitating, inter alia the direct modification of plant oil content and/or composition.