Roobini | Refined Palmolein Oil contains Vitamin E, A and beta carotene It lowers Cholesterol. Beta carotene helps in good night vision. It is good for the skin, and helps in bone growth. It plays a vital role in organ protection, tissue membrane structure met. What is refined palmolein? Palmolein, a liquid form of palm oil, is an edible vegetable oil derived from the fruit of the oil palm tree. Naturally reddish in color because of a high beta carotene content. Palm Olein oil is one of the few highly saturated vegetable fats. 3. Is refined palmolein oil good for health? NEW YORK (Reuters Health) – Palm olein, a liquid form of palm oil used in cooking and baking, has been considered neutral in its effects on cholesterol but a new Danish study suggests the vegetable fat could behave more like lard in the body.