It has been reported that dogs in south Devon and Cornwall have died after eating the substance, which is believed to be rancid palm oil, and although there have been no reports of it washing up on beaches here, there are fears that it could.
The Environment department in Jersey are monitoring the situation.
A local fisherman in Guernsey found lumps of the substance on the beach and reported it to staff at Sea Fisheries, Commerce and Employment who are analysing it now.
A spokesman for Guernsey’s Environment department said: “Whilst we cannot confirm exactly what this substance is yet we would urge dog owners to keep their pets away from any waxy substances washed up on beaches.
“We are grateful to Mr Le Noury for promptly advising Sea Fisheries of the substance found at Portelet.
“The Environment department has instructed States Works to remove any substance of this description which may be found on beaches.
“The public is advised not to remove the palm oil but anyone who has picked any up should double wrap it in plastic and dispose of it with their normal refuse.”