Dutch retailer Plus has been nominated for its private label light peanut butter which cut its fat content by 30%.
But by replacing peanuts with dried glucose syrup, the manufacturer has increased the sugar content by an impressive 451%.
FoodWatch says other private label brands such as Jumbo, Delamarkt and Calvé, have also reduced fat content by increasing sugar.
"Can it get any worse?" the campaign group asks. "Yes, it could be worse! Because with every peanut that is banned from the light version, the acclaimed vitamin E and fibre also disappear. And to make matters worse you pay more for that nutrition-poor, sugary goo."