21 C.F.R. § 73.85
(a) Identity.
(1) The color additive caramel is the dark-brown liquid or solid material resulting from the carefully controlled heat treatment of the following food-grade carbohydrates:
Dextrose. Invert sugar. Lactose. Malt sirup. Molasses. Starch hydrolysates and fractions thereof. Sucrose.
(2) The food-grade acids, alkalis, and salts listed in this subparagraph may be employed to assist caramelization, in amounts consistent with good manufacturing practice.
(i) Acids:
Acetic acid. Citric acid. Phosphoric acid. Sulfuric acid. Sulfurous acid.
(ii) Alkalis:
Ammonium hydroxide. Calcium hydroxide U.S.P. Potassium hydroxide. Sodium hydroxide.
(b) Specifications. Caramel shall conform to the following specifications:
Lead (as Pb), not more than 10 parts per million. Arsenic (as As), not more than 3 parts per million. Mercury (as Hg), not more than 0.1 part per million.