Peroxide value is defined as the amount of peroxide oxygen per 1 kilogram of fat or oil. Traditionally this was expressed in units of milliequivalents, although if we are using SI units then the appropriate option would be in millimoles per kilogram (N.B. 1 milliequivalents = 0.5 millimole; because 1 mEq of O2 =1 mmol/2=0.5 mmol of O2, where 2 is valence). Note also that the unit of milliequivalent has been commonly abbreviated as mequiv or even as meq.