The Bank of England has said it is looking for "potential solutions" after an outcry over the use of animal fat in the making of the new £5 note.
It said it was aware of some concerns about traces of the derivative, known as tallow, in the note since it was introduced into circulation in September - and was treating them with "utmost seriousness".
The new fiver is the first polymer - or plastic - note to be issued by the Bank of England.
Featuring Sir Winston Churchill on its design, it was hailed as a safer and stronger type of note in a high-profile launch by Bank governor Mark Carney.
The new note is said to be harder to counterfeit and able to survive a spin in the washing machine but has now landed in hot water with vegans and vegetarians.
More than 100,000 people have signed a petition to remove tallow, which is widely used in the making of candles and soap.
In a new statement, the Bank said it did not know about the issue when the contract to produce the note was signed.
It said: "We are aware of some people's concerns about traces of tallow in our new five pound note.
"We respect those concerns and are treating them with the utmost seriousness.
"Information recently provided by our supplier, Innovia, and its supply chain shows that an extremely small amount of tallow is used in an early stage of the production process of polymer pellets, which are then used to create the base substrate for the five pound note.
"Innovia is now working intensively with its supply chain and will keep the Bank informed on progress towards potential solutions."
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