A method of preparing an ester by reacting a carboxylic acid with a (C1-C36)alcohol in the presence of a catalyst that is suitable for preparing carboxylic acid esters of monomeric carboxylic acids in high yield. The method reduces by-products of the reaction, in particular esters of dimeric, trimeric and/or oligomeric carboxylic acids. The method requires a minimal excess of alcohol and does not require removal of water and/or carboxylic acid ester from the reaction mixture. The method is particularly suitable for the reaction of hydroxyalkylcarboxylic acids and fatty alcohols.