Abstract: The present invention provides a method for producing a water-in-oil emulsion and the emulsion explosives therefrom containing nitrostarch by nitrating starch with an excess of a nitrating agent, treating the reaction mixture thereof with anhydrous ammonia to form a solution of water, dissolved ammonium nitrate, and nitrostarch, and thereafter combining the aqueous solution with a carbonaceous fuel phase and emulsifier to form a water-in-oil emulsion. The explosive is provided, preferably, by the distribution of voids throughout the water-in-oil emulsion to render it detonable. The invention is also applicable to the production of melt-in-fuel explosive compositions and water-gel explosives.