Desiccated coconut is simply coconut meat that has been grated and dried. Available sweetened or unsweetened, it is commonly used as a topping for curries or other Asian dishes, as an ingredient in cooked cereal or granola, and in baked goods. It contains no cholesterol or trans fats while being rich in a number of essential nutrients, including dietary fiber, manganese, copper and selenium. Be aware that a 1-ounce serving of desiccated coconut is high in saturated fat, providing over 80 percent of the amount of saturated fat an adult should consume daily. If you're concerned about your fat intake, you can safely include desiccated coconut in occasional meals if your diet is primarily focused on lean proteins, whole grains and fresh fruits and vegetables.