Stocking rate mediates responses of mid-rotation loblolly pine in west-central Arkansas. 2. Profitability

摘要

Financial analyses are needed for the wide array of plantation designs commonly used in loblolly pine (Pinus taeda L.) forestry and agroforestry practices. Our objective was to develop an economic model to estimate financial outputs at mid-rotation (14 years old) for 13 loblolly pine stands (plantations) with 546 to 3067 trees ha(-1) (TPH). The Excel model allowed costs, returns, growth, and production scenarios to be varied to calculate net present value (NPV) and years to "break even" with and without pine straw. Plantations with a parts per thousand yen2100 TPH and no pine straw harvest had negative NPV and a relatively long break-even period than other plantations at a 5% discount rate. Pine straw harvesting nearly doubled NPV at about 1500 TPH compared to no pine straw, and substantially reduced years to break even at < 1500 TPH. There was little difference in NPV between multiple-row plantations. Single-row plantations with a parts per thousand yen1500 TPH should be considered only if pine straw is harvested or a lower discount rate is used. Pine straw harvesting probably would be impractical for the single-row plantations with < 1100 TPH, and 2-row and 3-row multiple-row plantations due to low stocking rate and partially open canopies. The model demonstrated the potential financial benefit for harvesting pine straw with timber, especially in the south-central US where pine straw is an underutilized resource.