Abstract: The invention relates to a process for the recovery of minor components and refining of vegetable oils and fats from crude vegetable oils and fats. The said invention describes the following process: A process for the recovery of minor components and refining of vegetable oils and fats from crude vegetable oils and fats without destroying naturally occurring components, said process comprising the steps of: a) removal of polar components from the crude vegetable oils and fats using lower alkyl alcohol or any lower alkyl alcohol-water mixture; b) removal of alcohol from the product obtained in step (a) by distillation; c) addition of suitable quantity of bleaching earth to the product obtained in step (b) at normal bleaching temperature followed by filtration; and d) deodorization of the product obtained in step (c) at a low temperature.