The present invention relates to an edible water-continuous oil-and-water emulsion having a pH in the range of 2.0-5.0, said emulsion comprising: 5-90 wt. % of an oil phase; 10-95 wt. % of an aqueous phase; 0.3-30% by weight of the aqueous phase of one or more egg yolk granule proteins selected from high density lipoprotein (HDL) and phosvitin; and from 0.05% up to 10 wt. % of the aqueous phase of one or more egg yolk plasma proteins selected from low density lipoprotein (LDL) and livetin; wherein the weight ratio of the egg yolk granule proteins to the egg yolk plasma proteins exceeds 1:1. It was discovered that egg yolk granule proteins can advantageously be used to stabilise acidic water-continuous oil-and-water emulsions such as mayonnaise and dressings.