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A novel story for a novel food ingredient?

Lipofoods, a Spanish food company has asked the Foods Standards Agency expert advisors on novel foods to consider its application for a phytosterol ingredient under the simplified approval procedure. The company has asked for an opinion on the 'equivalence' of a phytosterol ingredient to be used in various yellow fat spreads, salad dressings, milk type products and fermented milk type products.
The European Commission Novel Foods Regulation has a simplified procedure for when a company feels its novel food is substantially equivalent to a food that is already on the market.
A novel food is a food or ingredient which has no significant history of consumption within the EU before 15 May 1997. Before any food can be introduced to the EU market, it must be thoroughly tested and assessed for safety. This is done in the UK by an independent committee of scientists appointed by the FSA - the Advisory Committee on Novel Foods and Processes (ACNFP).
Lipofoods, therefore, are requesting that the FSA gives their opinion on the equivalence of their ingredient, phytosteol. If the ACNFP agree that it is an equivalent ingredient, Lipofoods will be able to bring their products to the EU market within a much shorter time frame. This ingredient, derived from soya, is intended to be used in yellow fat spreads, dressings, yoghurts and cheese type products. The basis of their request is that its product is equivalent to the phytosterol ingredient that is marketed by ADM and authorised since 2004. Phytosterols are used by the food industry for their cholesterol-lowering properties.