The product is currently being reviewed by European novel foods committees too but is already available in the US and Japan, where it is sold both to the consumer as cooking oil and as an ingredient.
The oil, made with canola and soy fatty acids, has a high diglyceride content whereas regular vegetable oils are mainly composed of triglycerides.
Recent research suggests that it could increase the body's ability to burn fat and may also improve appetite control and energy balance.
The food industry is under increasing pressure to improve the nutritional value of foods and closer attention to fat content has been further underlined by a ban on trans-fats in the US. The high-diglyceride oil could be used in foods such as nutritional bars and drinks, as well as meal replacements and baked goods.
Food Standards Australia New Zealand has made its safety asessement available for public comment on its websit, before changing the food code to allow the product.