"It was the commercial demand for harp seal oil and skins in the late 18th century that gave rise to the sealing industry. By 1850 the annual seal hunt was worth between $1.0 and $1.25 million to Newfoundland. At that time much of this revenue came from the sale of oil, an odourless, tasteless, clear liquid obtained by rendering (melting down) the thick layer of fat attached to the skin. Harp seal oil became valued as a fuel for lamps, a cooking oil, and a lubricant.

Since the 1950's, fur and leather, oil and meat have been the principal products of the hunt, representing approximately 76%, 10%, and 14%, respectively, of the income derived by Canadian sealers. The value added to Atlantic Canada's economy in 1982 was estimated at $10 to $12 million. This included revenues to sealers in the neighbourhood of $500,000 derived from the sale of carcasses and flippers for food, mainly in Newfoundland."


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                  here