Leave root and 1-inch stem on beets; scrub with a brush. Place in a large saucepan; cover with water, and bring to a boil. Cover, reduce heat, and simmer 35 minutes or until tender. Drain and rinse under cold water. Drain; let cool. Trim off beet roots; rub off skins. Cut beets into 1/4-inch-thick slices.
Combine jam and next 5 ingredients in a large nonstick skillet; cook over medium-high heat until jam and margarine melt, stirring constantly. Add beets; cook until thoroughly heated, stirring frequently. Combine cornstarch and concentrate; stir until well blended. Add to beet mixture; cook until thick and bubbly, stirring constantly.