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The effect of species mixture was studied in a mixed stand of Norway spruce ( (L.) H. Karst.) and Scots pine ( L.) by simulating around 100 different treatment schedules during the rotation in a naturally regenerated even-aged stand located on a site of medium fertility in North Karelia, Finland. Both thinning from below and thinning from above were applied. Optimum rotations were determined by maximising the net present value calculated to infinity and different treatment schedules were compared with the net present value over one rotation as per rotation applied. In the optimum treatment programme, the proportion of pines was decreased by half of the basal area in the first thinning stage and by the end of the rotation to about one third. In thinning from above, the proportion of pines can be maintained at a slightly higher level. It is economically profitable to maintain the growing stock capital at approximately the level recommended by Forest Centre Tapio, a semi-governmental forestry authority. With non-optimum species composition, the loss in net present value over one rotation can be about 10 % in thinning from below and about 20 % in thinning from above. Picea abiesPinus sylvestris

Part I Climate Change The impact of carbon sequestration on the financial profitability of four tree plantation cases in Finland and the Philippines were examined. On the basis of stem wood growth; the accumulation of carbon in forest biomass, the formation and decomposition of litter, and the carbon flows in wood-based products were assessed for each reforestation case representing boreal (Finland) and moist tropical conditions (the Philippines). Using different unit values for carbon sequestration the profitability of reforestation was estimated for a fixed 100 year period on a per hectare basis. The financial profitability of reforestation increased notably when the sequestered carbon had high positive values. For example, when the value of carbon sequestration was set to be Twenty-five United States Dollars per megagram of carbon (25 USD/Mg C), the internal rate of return (IRR) of a reforestation investment with spruce (Picea abies) in Finland increased from 3.2% to 4.1%. Equally, the IRR of reforestation with mahogany (Swietenia macrophylla King) in the Philippines increased from 12.8% to 15.5%. The present value of carbon sequestration ranged from 39–48% and from 77–101% of the present value of the reforestation costs in Finland and the Philippines, respectively, when a 25 USD/Mg C shadow price and a 5% discount rate were applied. Sequestration of one Mg of carbon in reforestation in Finland and the Philippines was estimated to cost from 10.5–20.0 and from 4.0–13.6 USD, respectively.

Implementing forestry bookkeeping and cost accounting - 20 years of field research on th profitability of forestry in Austria : Metsakirjanpidon ja -kustannuslaskennan toteuttaminen - 20 vuotta metsatalouden kenttatutkimusta Itavallassa

The economic analysis is based on computer simulations which covered a seedling rotation and three successive coppice rotations. Calculations were carried out for the four site productivity classes in plantations. The rotation length that maximized the land expectation value is 12â20 years for seedling rotation and 8â16 years for coppice rotations with discounting rates 2â8%. The mean wood production is over 40 m/ha/a in the best site class and about 10 m/ha/a in the poorest class with rotation lengths ranging from 10 to over 20 years. Thinnings increase the wood production and land expectation value by a few percentage points. In areas suitable to growth, the land expectation value is considerably higher in forestry than in agriculture, except in very poor areas or with very high rate of interest.Eucalyptus globulus33Eucalyptus globulus

The paper discusses certain aspects of the capital management of forest assets. These aspects are of importance when one wants to consider what means to use to influence the capital management on both small and big forest properties. When quantifying the effects of different uses of capital, one must necessarily have a scale. The rate of return is for this purpose the usual measure of profitability. We will first discuss the differences between nominal and real rate of return, and point out the assumptions which are often implicit in analyses of the profitability of investments in forestry. We will the discuss certain liquidity and risk aspects of capital investments in forestry, and at the end deal with certain consequences of taxation.

To conduct an efficient forest policy, both a normative and a positive theory are necessary. In addition, however, the explicit intertemporal considerations in natural resource economics demand that it is made crystal clear which means are permanent and which are non-permanent. The permanent case is far from easy to solve. That the theoretical problems have practical relevance is shown by Swedish experience. A practical course of action is to weight possible positive effects from a permanent subsidy against possible deleterious outcomes. It is also desirable to avoid jerkiness in forest policy, which is likely to create uncertainty about the permanence of permanent means. Law may sometimes be more efficient in creating âcredibilityâ than economic incentives. Regeneration has been mandatory in Sweden since 1903, and nobody refrains from cutting because he believes that regeneration duty will be abolished in some near future.

Metsänhoitajien jatkokurssit : 1956. 8.

Metsänhoitajien jatkokurssit : 1956. 8.