The present invention is directed to a process of producing polyol esters possessing desirable composition and color. Preferably, such a process does not require molecular distillations or decoloration steps to yield a light-colored polyol ester composition. Materials that are dark in color are often produced during the esterification of polyols with vegetable oil fatty acids. It has been discovered that the present process yields the desired ester products that are light in color. The present process comprises an esterification of a polyol, such as propylene glycol, and a fatty acid ester, such as a vegetable oil fatty acid methyl ester, in the presence of a catalyst and borohydride, wherein a polyol ester having a Lovibond color below about 0.6 Red and below about 1.5 Yellow is produced.

 
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