Wikipedia: Condensed milk is cow's milk from which water has been removed. It is most often found in the form of sweetened condensed milk (SCM), with sugar added, and the two terms "condensed milk" and "sweetened condensed milk" are often used synonymously today.
...and why do you want it?
Only reason you need: Because there's nothing else that makes a dessert recipe reach this level of creamy sweetness. The milk proteins impart a toasty flavor, the creaminess is essential to fudgey recipes and condensed milk puts the "leche" in anything caramel.
Kosher cooks are generally unfamiliar with this product because we tend to make mostly pareve desserts. Well now is the time to find out what parve homemade condensed milk can do for you and those you love. Can you say yummmmmm?
2 cups coconut liquid or milk (not cream of coconut milk)
2.3 cup sugar
1/4 teaspoon vanilla
1. In heavy bottomed sauce pan over medium heat, combine coconut milk and sugar. Stir until mixture begins to simmer. No more stirring after it starts to simmer!
2. Continue simmering and NOT stirring for 30 to 40 minutes until mixture is reduced by half an is a dark golden color. Any sugar crystals on the edges should remain there, as they will not blend in and the results will not be creamy.
3. Cool to room temperature. Once the mixture is cooled, pour it in a glass jar.
Total time 10 minutes ~ Makes approximately 1 ½-2 cups