An emulsifier for use in making PIT or microemulsions is comprised of (a) from
45 to 60% by weight of a partial glyceride, (b) from 5 to 25% by weight of an alcohol
polyglycol ether, (C) from 5 to 15% by weight fatty alcohol, and (d) from 0 to
15% by weight of a wax ester wherein the monoglyceride content of the partial glyceride
is less than 50% by weight and wherein the monoglyceride is comprised of palmitic
and stearic acid residues in a ratio by weight of from 40:60 to 60:40. Emulsions
containing these emulsifiers neither gel nor crystallize in storage.