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Olive oil is more expensive than normal oils, but due to its nutrition properties (and probably its taste), chefs prefer to use it for lots of different applications even frying. Avocado oil is more valuable than olive oil, and of course, more expensive. It is normally used for cosmetics, due to its magical effect on skin healthcare.

Apart from its price, is it an ideal replacement for olive oil in different types of recipes? I mean is there any drawback to use avocado oil in recipes as a general oil? because I have not seen such suggestion in recipes. Is its high cost the only reason for avocado oil unpopularity in cooking, or other disadvantages?

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See What oil or fat to use for different purposes? for a general discussion about choosing oils.

If you are using unrefined avocado oil, you it will have a unique flavor that will affect your dish or outcome, and in that case, the flavor would be the primary purpose.

If you are using refined avocado oil, its main unique characteristic is that it has an unusually high smoke point at about 480 F (250 C). While this may make it exceptionally suitable for applications like deep frying, you would have to consider whether the cost is justified, given that many more available and lower cost oils (at least in much of the world) perform very well, and most deep frying temperatures don't exceed 375 F (190 C).

As to a drawback—if you exclude cost—no, there is no reason to avoid refined avocado oil in recipes.

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