PURPOSE: To produce the titled fatty acid ester in high purity in high yield without making it pass through a high-temperature history, by reacting a fatty acid or fatty acid ester with propylene glycol in a liquid state in the presence of fat and oil hydrolase.

CONSTITUTION: One or a mixture of two or more 4W22C saturated and unsaturated fatty acids (e.g., butyric acid), or one or a mixture of two or more esters of the fatty acids and methyl alcohol, ethyl alcohol, etc. is blended with ≥5mol bassed on 1mol of the fatty acid or fatty acid ester of propylene glycol having ≤30wt% water content. The blend is heated at 30W45°C, and incorporated with a necessary amount of a fat and oil hydrolase originating in Candida cylindacea to scissor glycerid at 1-, 2-, and 3-positions. The reaction is carried out for 1W5 days with stirring. After the reaction is over, the oil layer is separated from the propylene glycol layer, the oil layer is collected, and purified by molecular distillation.