Virgin Coconut Oil is derived from the wet process of coconut milk extraction. 

One aspect of the production of "virgin" oil which is constant regardless of the method used is the need to reduce the final moisture content to 0.1% or less. This is necessary to prevent rancidity caused by excess moisture. The manner in which this requirement is met depends on the extraction method used as described below. Because these methods are far more labor and time-consuming in order to produce a better quality of oil, the price is much higher than for RBD oils. Virgin coconut oil is recognizable by its slight coconut taste and aroma. 

Virgin coconut oil may also have a toasted or smoky flavor and a slight yellowish color depending on the processing method used. The clearer the color, the better the quality. It should not be cloudy when melted. Virgin Coconut Oils that are obtained through cold extraction are usually more expensive than highly refined oils and fats obtained through high heat extraction methods.