Mahsi, Mr. Speaker. Today being November 1st, this time of the year, I always get nostalgic. Traditionally, today is the day trapping season starts in the Northwest Territories and most of Canada. It is a time when trappers look forward to and set forth their plans that they have been working on for a few months now. Today I rise to speak on this important matter.
This is a critical year if we are to reverse the downward trend in the fur industry, Mr. Speaker. The market is starting to make a comeback, especially in Europe and the United States. One auction house in Vancouver had an inventory of 300,000 skins at this time last year. This year, they report they have no skins left. The demand for northern fur is exceeding supply, Mr. Speaker. I believe the time is right to resurrect this industry, especially in communities with depressed economies in the North.
There are many areas where we could be involved, but we are not, Mr. Speaker. The fur trade contributes about $800 million to the Canadian economy annually. That includes harvesting and manufacturing. Other areas are fur farming, retail and related services. The fur industry provides income for more than 85,000 Canadians. In the Northwest Territories last winter, there were 1,004 harvesters. The value of furs sold was $838,000, not including furs sold privately.
Mr. Speaker, the fashion industry is once again finding new and more ways to use furs for their garments. The fur trade is making a comeback. Knitted furs are another option. New quick-kill traps are accepted by northern trappers and people around the world as a humane way of trapping. Market prices for marten at one Vancouver auction house have increased by 20 percent, Mr. Speaker, and lynx prices are expected to increase next season.
Another untapped area is taxidermy training. Manufacturing and merchandising of fur garments is another avenue largely unexplored in the Northwest Territories. Through training opportunities, trappers can upgrade their knowledge and skill. In a community with a depressed economy such as Fort Resolution, this is an area where I believe RWED can help. In past years, Fort Resolution was one of the highest producers of furs in the Northwest Territories. I suggest that RWED look at providing additional funds to trappers in communities with depressed economies. These funds could be used for further training equipment and supplies, supply upgrades and increase promotion of trapping as a source of income. That...