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I have done some research and have some information to share. The first thing I had to do was figure out the difference between coconut milk and coconut water.
Coconut water is what is found inside the coconut. Best I can tell there is nothing wrong with drinking it as long as you don’t replace your daily intake of actual water with it.
Coconut milk is the liquid that is pressed out of the coconut meat (making it a processed food). It is loaded with saturated fats that will raise cholesterol. Making it something I would consider a rare treat.
Eating coconut itself (the whole food) is better than drinking the milk but still has a lot of saturated fat.
In my opinion, coconut oil should only be used on your skin and hair as it is the (bad) fat, concentrated.
This 15 minute audio from Dr Greger will give you more details.
I hope that is helpful! 🙂