3-Palmitoyl-rac-glycerol is a glycerol esterified fatty acid, monoacylglycerol, found in lipid structures such as ceramides. 3-Palmitoyl-rac-glycerol may be used as a substrate for the identification and differentiation of enzymes that hydrolyze or transfer monoacylglycerols such as neuropathy target esterase(s) and monoacylglycerol acyltransferase(s) (MAG).