Ambergris is a waxy substance often called whale vomit which is produced by sperm whales . Read more about Ambergris, Meaning, Formation, Uses, Latest News The police have recovered whale vomit , or ambergris, valued at about Rs 10 crore from three persons in South Goa, an official said on Friday. Ambergris, often referred to as whale vomit , is a rare and expensive substance with high demand in the perfume industry due to its fixative properties, helping fragrances last longer. Ambergris is a waxy substance formed by the secretion of the bile duct in the intestine of a sperm whale . It is one of the most exotic and expensive fragrances available, with a unique and complex aroma that develops over years of aging in the sea.