Even lard can produce colour (8)
I believe the answer is:
lavender
'colour' is the definition.
(I know that lavender is a colour)
'even lard can produce' is the wordplay.
'can produce' is an anagram indicator (I've seen this in other clues).
'even'+'lard'='evenlard'
'evenlard' anagrammed gives 'LAVENDER'.
(Other definitions for lavender that I've seen before include "Fragrant plant" , "Delicate perfume from shrub with purple leaves" , "Shrub with fragrant blue flowers" , "Pale bluish-purple" , "Pale purple" .)