Skip to page content
USDA Forest Service
  
Treesearch

Research & Development Treesearch

 
Treesearch Home
About Treesearch
Contact Us
Research & Development
Forest Products Lab
International Institute of Tropical Forestry
Northern
Pacific Northwest
Pacific Southwest
Rocky Mountain
Southern Research Station
Help
 

Science.gov - We Participate


USA.gov  Government Made Easy


Global Forest Information Service

US Forest Service
P.O. Box 96090
Washington, D.C.
20090-6090

(202) 205-8333

You are here: Home / Search / Publication Information
Bookmark and Share

Publication Information

View PDF (188 KB)

Title: Global timber investments, wood costs, regulation, and risk

Author: Cubbage, F.; Koesbandana, S.; Mac Donagh, P; Rubilar, R.; Balmelli, G; Morales Olmos, V.; De La Torre, R.; Murara, M.; Hoeflich, V.A.; Kotze, H.; Gonzalez, R; Carrero, O.; Frey, G.; Adams, T.; Turner, J.; Lord, R.; Huang, J.; MacIntyre, C.; McGinley, Kathleen; Abt, R.; Phillips, R.;

Date: 2010

Source: Biomass and Bioenergy. 34: 1667-1678

Publication Series: Scientific Journal (JRNL)

Description: We estimated financial returns and wood production costs in 2008 for the primary timber plantation species. Excluding land costs, returns for exotic plantations in almost all of South America e Brazil, Argentina, Uruguay, Chile, Colombia, Venezuela, and Paraguay e were substantial. Eucalyptus species returns were generally greater than those for Pinus species in each country, with most having Internal Rates of Return (IRRs) of 20% per year or more, as did teak. Pinus species in South America were generally closer to 15%, except in Argentina, where they were 20%. IRRs were less, but still attractive for plantations of coniferous or deciduous species in China, South Africa, New Zealand, Indonesia, and the United States, ranging from 7% to 12%. Costs of wood production at the cost of capital of 8% per year were generally cheapest for countries with high rates of return and for pulpwood fiber production, which would favor vertically integrated firms in Latin America. But wood costs at stumpage market prices were much greater, making net wood costs for open market wood more similar among countries. In the Americas, Chile and Brazil had the most regulatory components of sustainable forest management, followed by Misiones, Argentina and Oregon in the U.S.

Keywords: Forest plantations, Investment returns, Financial models, Risk, Pinus spp, Eucalyptus spp

Publication Notes:

  • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

XML: View XML

Citation:


Cubbage, F.; Koesbandana, S.; Mac Donagh, P; Rubilar, R.; Balmelli, G; Morales Olmos, V.; De La Torre, R.; Murara, M.; Hoeflich, V.A.; Kotze, H.; Gonzalez, R; Carrero, O.; Frey, G.; Adams, T.; Turner, J.; Lord, R.; Huang, J.; MacIntyre, C.; McGinley, K.; Abt, R.; Phillips, R. 2010. Global timber investments, wood costs, regulation, and risk. Biomass and Bioenergy. 34: 1667-1678.

 


 [ Get Acrobat ]  Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility

USDA logo which links to the department's national site. Forest Service logo which links to the agency's national site.