A method for treating vegetable oils and/or animal fats comprising the following steps: (i) feeding an oily feed stream to a vacuum steam stripping column operating at a vacuum level of at least 1 mbar, said oily feed stream comprises volatiles such as free fatty acids, micronutrients and neutral oils such as mixtures of tri-, di- and mono-acylglycerides, stripping off fatty acids, micronutrients together with other volatiles, and neutral oils; (ii) feeding the stripped off fatty acids, micronutrients together with other volatiles, and neutral oils to a high temperature condensing zone, condensing the neutral oils from vapour phase at an elevated temperature of at least 150°C, obtaining condensed neutral oils, retaining and sending back, all or some portion of the condensed neutral oils to the stripping column in step (i) either directly or indirectly via upstream operations, such as to bleaching operation and/or to degumming/neutralisation operation, allowing steam, volatile fatty acids, micronutrients together with other volatiles to pass to cold condensation zone in step (iii) or allowing steam, volatile fatty acids, micronutrients together with other volatiles to be fed to a distilling column in a distilling step before the cold condensation zone in step (iii); (iii) condensing the volatile fatty acids, micronutrients together with other volatiles in a cold condensation zone operating at a temperature within the range of from about 25°C to about 80°C, obtaining a condensate comprising volatile fatty acids, micronutrients together with other volatiles and a stream comprising steam, non-condensable gases, traces of fatty acids and other lighter hydrocarbons vapours, allowing stream to continue to vacuum system; and that the method also comprises obtaining a stream of neutral oils, a fatty acid product stream and a stream enriched in micronutrients. (i) feeding an oily feed stream to a vacuum steam stripping column operating at a vacuum level of at least 1 mbar, said oily feed stream comprises volatiles such as free fatty acids, micronutrients and neutral oils such as mixtures of tri-, di- and mono-acylglycerides, stripping off fatty acids, micronutrients together with other volatiles, and neutral oils; (ii) feeding the stripped off fatty acids, micronutrients together with other volatiles, and neutral oils to a high temperature condensing zone, condensing the neutral oils from vapour phase at an elevated temperature of at least 150°C, obtaining condensed neutral oils, retaining and sending back, all or some portion of the condensed neutral oils to the stripping column in step (i) either directly or indirectly via upstream operations, such as to bleaching operation and/or to degumming/neutralisation operation, allowing steam, volatile fatty acids, micronutrients together with other volatiles to pass to cold condensation zone in step (iii) or allowing steam, volatile fatty acids, micronutrients together with other volatiles to be fed to a distilling column in a distilling step before the cold condensation zone in step (iii); (iii) condensing the volatile fatty acids, micronutrients together with other volatiles in a cold condensation zone operating at a temperature within the range of from about 25°C to about 80°C, obtaining a condensate comprising volatile fatty acids, micronutrients together with other volatiles and a stream comprising steam, non-condensable gases, traces of fatty acids and other lighter hydrocarbons vapours, allowing stream to continue to vacuum system; and