The carnauba wax is heated to a temperature of 80 to 90'C., after which the Rosin Amine D is slowly added and stirred into the hot wax. Next, the acetic acid solution is slowly added, with stirring, to form a water-in-oil emulsion. An oil-in-water emulsion is then formed as the water is added slowly with agitation. The emulsion thus formed is quite viscous but can be diluted with water to yield stable emulsions of lower viscosity.