Is Velveeta Velveeta Original Pasteurized Recipe Cheese Product safe?

Full ingredient label

Skim milk, milk, whey, milkfat, milk protein concentrate, sodium phosphate, contains less than 2% of modified food starch, salt, calcium phosphate, lactic acid, sorbic acid (a preservative), sodium alginate, sodium citrate, enzymes, apocarotenal (color), annatto (color), vitamin A palmitate.