Emulsifier 471 or E471, that may be a culprit, check to see if it's listed.
From
http://www.mbm.net.au/health/400-495.htm : Synthetic fats, produced from glycerol and natural fatty acids, mainly from plant origin, but also fats of animal origin may be used.
Most breads that I've eaten since turning vegan have been organic, however I did pick up a non organic loaf of bread the other day which listed E471 but stated that it did not contain any animal fats.
My 2c is to simply buy organic (after checking ingredients), or make your own
mmm could do with some toast topped with Nuttelex at the moment
Edit: Lol beaten to it