One aspect of the invention relates to a packaged, oxidation-stable oil-in-water emulsion comprising: 0.1-10 wt. % of oil, said oil containing 0.1-80 g of polyunsaturated fatty acids per liter of emulsion; 1-20 mg/l of pro-oxidative metal cations; 10-2000 mg/l of vitamin C; and up to 98 wt. % of water;wherein the container comprising the emulsion holds no headspace and wherein the molar ratio of vitamin C to pro-oxidative metal cations exceeds 1:2. Oxidation of the polyunsaturated fatty acids contained in the emulsion, is effectively prevented, despite the fact that the emulsion contain appreciable amounts of pro-oxidative metal cations and even if the emulsion is produced under conditions in which it is in direct contact with air. Another aspect of the invention relates to a method of preparing a packaged emulsion as defined above.