A preserved milk in which the water content of the milk is evaporated and a lot of sugar is added. It was very popular in wartime England because of how well it preserved. These days it is used mainly in sweets and confectionery making. It is also used in iced drinks (Thai iced tea) because of its high sugar content (it won't freeze easily).
CONDENSED MILK
Meaning of CONDENSED MILK in English
English dictionary of cooking and food terms. Английский словарь терминов приготовления и условий питания. 2012