An oil-in-oil emulsion is prepared by emulsifying an oil phase in the presence of an emulsifying agent and an aqueous phase to make an oil-in-water emulsion and thereafter emulsifying or introducing this primary emulsion as dispersed particles into a continuous oil phase of lower melting point than that of the oil phase in the primary emulsion, but which is solid at normal temperature. According to a modification, both the oil phase of the primary emulsion and the oil phase which is the continuous phase in the final emulsion are dispersed in the aqueous phase, the emulsion thereby formed then being subjected to cooling, or cooling in conjunction with a mechanical treatment, by which a change of phase occurs, the lower melting oil becoming the continuous phase. In the examples: (1) A mixture of water, acidified skim-milk, milk powder, diglycerol monostearate, lecithin and diacetyl is circulated through an emulsifying pump while a molten mixture of coconut fat, hardened coconut fat, hardened whale oil, butter colour and vitamin solution having a temperature of 40 DEG C. is slowly added. The formed emulsion is then emulsified in an oil mixture consisting of sesame oil, peanut oil, coconut fat and whale oil hardened to have a melting point of 40-42 DEG C. During the emulsification the temperature of this latter oil mixture is kept below the melting point of the fat present in the primary emulsion, e.g. 33 DEG C. (2) The procedure is the same as example (1) with a different proportion of ingredients and the omission of diacetyl, a margarine being produced. (3) The procedure of example (1) is used to produce a margarine with two dispersed fat phases, each making up 10 per cent of the total amount of fat, the continuous phase and one of the internal phases having the same composition as the first example, while the other has a somewhat higher melting point. (4) A mixture of hardened whale oil (m.p. 40-42 DEG C.) and glycerol monopalmitate is melted and emulsified with an aqueous solution of glucose, soya lecithin and liquid egg yolk. The resulting oil-in-water emulsion is cooled to 35 DEG C. and emulsified in a mixture of neutral lard, premier jus, shea butter, hardened whale oil (m.p. 50-52 DEG C.), hardened whale oil (m.p. 40-42 DEG C.), peanut oil and an emulsifying agent consisting of polymerized soy oil tetra glyceride, the temperature being kept at 38-42 DEG C. The finished emulsion is cooled, kneaded and mixed to produce a bakery emulsion for making pastry. (5) Tallow is emulsified with water containing milk powder and an emulsifying agent first at 75 DEG C., and then while cooling down to 33 DEG C. The resulting oil-in-water emulsion is then emulsified in a mixture of tallow, butter and emulsifying agent which has been melted at a temperature of 45 DEG C. (6) An emulsion of hardened whale oil in water is emulsified into an outer phase consisting of soy oil, hardened whale oil and emulsifying agent. (7) A fat-in-water emulsion is prepared, containing as fat phase coconut fat, hardened coconut fat, hardened whale oil, lecithin, vitamin oil and butter colour and as water phase acidified skim-milk, diacetyl and diglycerol monostearate. An oil-in-water emulsion is then prepared, containing as oil phase peanut oil, sesame oil, butter colour and oxidized and polymerized soy oil and a water phase consisting of water and hexaglycerol monolaurate. The oil-in-water emulsion is mixed with the fat-in-water emulsion while vigorously whipping and cooling from 50 DEG C., to room temperature, the resulting emulsion being a fat-in-oil emulsion. (8) A fat-in-water emulsion is prepared containing as fat phase coconut fat, hardened coconut fat, hardened whale oil, butter colour and vitamin oil, and as water phase acidified skim-milk, diglycerol mono-fatty acid and lecithin. An oil-in-water emulsion is prepared containing as oil phase peanut oil, sesame oil and butter colour, and as water phase decaglycerol mono-fatty acid, acidified skim-milk, alkalinised dried milk and diacetyl. The fat-in-water emulsion is added to the oil-in-water emulsion with whipping and the resulting fat-in-oil emulsion is then subjected to churning or kneading. (9) This example is substantially the same as example (8) with slight modifications of proportions and disposition of ingredients.ALSO:Oil-in-oil emulsions suitable for use in the margarine or bakery industries are prepared by emulsifying an oil phase in the presence of an emulsifying agent and an aqueous phase to make an oil-in-water emulsion and thereafter emulsifying or introducing this primary emulsion as dispersed particles into a continuous oil phase of lower melting point than that of the oil phase in the primary emulsion but which is solid at normal temperature. According to a modification, both the oil phase of the primary emulsion and the oil phase which is the continuous phase in the final emulsion are dispersed in the aqueous phase, the emulsion thereby formed then being subjected to cooling or cooling in conjunction with a mechanical treatment by which a change of phase occurs, the lower melting oil becoming the continuous phase. In the examples: (1) A mixture of water, acidified skim-milk, milk powder, diglycerol monostearate, lecithin and diacetyl is circulated through an emulsifying pump while a molten mixture of cocoa-nut fat, hardened cocoa-nut fat, hardened whale oil, butter colour and vitamin solution having a temperature of 40 DEG C. is slowly added. The formed emulsion is then emulsified in an oil mixture consisting of sesame oil, peanut oil, cocoa-nut fat and whale oil hardened to have a melting point of 40-42 DEG C. During the emulsification the temperature of this latter oil mixture is kept below the melting point of the fat present in the primary emulsion, e.g. 33 DEG C. (2) The procedure is the same as example (1) with a different proportion of ingredients and the omission of diacetyl, a margarine being produced. (3) The procedure of example (1) is used to produce a margarine with two dispersed fat phases each making up 10 per cent of the total amount of fat, the continuous phase and one of the internal phases having the same composition as the first example, while the other has a somewhat higher melting point. (4) A mixture of hardened whale oil (m.p. 40-42 DEG C.) and glycerol monopalmitate is melted and emulsified with an aqueous solution of glucose, soya lecithin and liquid egg yolk. The resulting oil-in-water emulsion is cooled to 35 DEG C. and emulsified in a mixture of neutral lard, premier jus, shea butter, hardened whale oil (m.p. 50-52 DEG C.), hardened whale oil (m.p. 40-42 DEG C.), peanut oil and an emulsifying agent consisting of polymerised soy oil tetra glyceride, the temperature being kept at 38-42 DEG C. The finished emulsion is cooled, kneaded and mixed to produce a bakery emulsion for making pastry. (5) Tallow is emulsified with water containing milk powder and an emulsifying agent first at 75 DEG C., and then while cooling down to 33 DEG C. The resulting oil-in-water emulsion is then emulsified in a mixture of tallow, butter and emulsifying agent which has been melted at a temperature of 45 DEG C. (6) An emulsion of hardened whale oil in water is emulsified into an outer phase consisting of soy oil, hardened whale oil and emulsifying agent. (7) A fat-in-water emulsion is prepared containing as fat phase cocoa-nut fat, hardened cocoa-nut fat, hardened whale oil, lecithin, vitamin oil and butter colour and as water phase acidified skim-milk, diacetyl and diglycerol monostearate. An oil-in-water emulsion is then prepared containing as oil phase peanut oil, sesame oil, butter colour and oxidised and polymerised soy oil and a water phase consisting of water and hexaglycerol monolaurate. The oil-in-water emulsion is mixed with the fat-in-water emulsion while vigourously whipping and cooling from 50 DEG C., to room temperature, the resulting emulsion being a fat-in-oil emulsion. (8) A fat-in-water emulsion is prepared containing as fat phase cocoanut fat, hardened cocoanut fat, hardened whale oil, butter colour and vitamin oil, and as water phase acidified skim-milk, diglycerol mono-fatty acid and lecithin. An oil-in-water emulsion is prepared containing as oil phase peanut oil, sesame oil and butter colour, and as water phase dekaglycerol mono-fatty acid, acidified skim-milk, alkalinised dried milk and diacetyl. The fat-in-water emulsion is added to the oil-in-water emulsion with whipping and the resulting fat-in-oil emulsion is then subjected to churning or kneading. (9) This example is substantially the same as example 8 with slight modifications of proportions and disposition of ingredients.