TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Process: The vapor stream flashed off in step (c) and the stripping vapor stream is partially condensed and the condensate thus obtained is at least partially recycled into the reaction mixture provided in step (a). The flashing residue generated in step (c) is subjected to a vacuum stripping process, thus providing a stripping vapor stream and a stripping residue. The flashing and the stripping residue is at least partially used as starting material for the transesterification with a 1-4C alkyl monohydric alcohol (preferably methanol) in the presence or absence of a neutral triglyceride oil. The flashing residue and/or stripping residue (10-40 wt.%) is incorporated into the reaction mixture provided in step (a). The esterification in step (b) is catalyzed by an acid or an acid activated bleaching earth and is performed in the absence of a catalyst. The acid catalyst is immobilized as a packed bed. The pressure during step (b) is regulated at a valve above 10 hPa and below 0.5 Mpa gauge. The vapor stream generated in step (c) is subjected to fractionation. The flashing residue containing the esters is mixed with neutral oil resulting in a residual free fatty acid content not exceeding 2 wt.% expressed as oleic acid. EXAMPLE - A fatty acid distillate (88.9 wt.%) contained small amounts of monoglycerides, diglycerides and triglyceride as a starting material. This starting material (400 g) was mixed with glycerol (133 g, 99.5% purity) to form an equimolar reaction mixture of free fatty acids (FFA) and glycerol which was preheated to 80 degrees C. The pre-heated mixture (1 liter) was heated to 200 degrees C. After reaction time of 300 minutes, the mixture was cooled to 80 degrees C, the reactor was vented and its contents were separated. The FFA content expressed as oleic acid of the upper layer resulting from separation was 78.9 wt.% (for 0 minutes), 41.7 wt.% (for 60 minutes), 19.4 wt.%(for 180 minutes) and 11.8 wt.% (for 300 minutes) respectively. A flashing step was carried out by placing the resulting reaction mixture from esterification reaction after 300 minutes into the deodorization flask. A small amount of steam was passed through the reaction mixture to provide some agitation. When the temperature of 200 degrees C had been reached, the pressure was reduced to 3hPa and timer was started. After 30 minutes distillation the contents of the deodorization flask were analyzed for glycerol (31 wt.%), diglycerides (less than 0.1 wt.%), triglyceride (less than 0.1 wt.%) and FFA content (25.6 wt.%) expressed as oleic acid. The distillate contained the most volatile components of the starting material and very minor amount of di- or triglycerides. This distillate, in view of its composition, could be recycled to an esterification reaction. Upon performance of the flashing step, further di- or triglycerides were formed at the expense of free fatty acids and of monoglycerides present in the starting material. It was observed that the flashing operation caused less glycerol to be formed during a transesterification reaction, and achieved a residual FFA content of the flashing residue which was low enough for avoiding losses of fatty acid moieties in a trasesterification of the residue.