Borden Condensed Milk Recipes. However, to make caramel frosting, you need to add more sugar to evaporated milk than if you were using condensed milk. Sweetened condensed milk isn’t very high in fat.

According to the usda, 2 tablespoons of evaporated whole milk contain about 40 calories and 3 grams of sugar. It contains 3 grams per 2 tablespoons. Sweetened condensed milk isn’t very high in fat.