Coconut milk powder. Coconut milk powder is spray-dried coconut milk. Similar to instant milk powder, it is white in colour, free flowing and easily dispersed in water. It also has an acceptable coconut flavour. Powdered coconut milk contains about 61% oil, 27% carbohydrates, 7% protein, 1.8% ash, 0.2-0.8% moisture and 0.02% crude fibre.