I think you meant to say, Carnation Malted Milk Powder. Which has become difficult to find in 2019. Malted milk is a powdered food product made from a mixture of malted barley, wheat flour, and whole milk, which is evaporated until it forms a powder. This is what's in Ovaltine and in Whoppers. Actual Malt powder comes in two forms: diastatic and non-diastatic. Diastatic malt contains enzymes that break down starch into sugar; this is the form bakers add to bread dough to help the dough rise and create a good crust. It is food for the yeast. These are only available online and can be found by most search engines. There are just not enough folks cooking at home to keep the stuff fresh in local stores.
...and you can make your own by sprouting grain (must be whole, esp. barley), drying it, grinding it. I did it once, following an article in Prevention magazine, in the 70's,
Carnation used to sell malt powder that was intended for sodas. I don't think it's available now.
I use diastatic malt powder when baking bread--it helps bread rise better. I order it from King Arthur Flour. They also sell non-diastatic malt powder, and that's most often used for making bagels. The difference between the two has something to do with enzymes--diastatic has them, and non-diastatic doesn't.
Malted barley is used to make beer, malt vinegar and other things. In my opinion, its highest and best use is achieved when it's added to a vanilla milkshake to make a vanilla malt -- YUM -- though I'm sure your cookies will be delicious too. For baking, I'm pretty sure you want diastatic malt powder or malt flour. I know they sell it at Whole Foods, and probably at other grocery stores as well.
As of 2019, Whole Foods does NOT sell malt powder or flour. Only malt vinegar and malt syrup. Amazon is where you can find it and many other items that Whole Foods, Trader Joe and all the other shops don't carry.
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I adore malt in blondies and paired with chocolate in baked goods. So yummy.
Carnation used to sell malt powder that was intended for sodas. I don't think it's available now.