• Journal of Forest and Environmental Science
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• v.31 no.1
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• pp.38-46
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• 2015

The stumpage price changes were calculated and analyzed from the data collected by Timber Mart-South from 1998 to 2007. We analyzed the relationship between pine sawtimber stumpage prices and timber sale characteristics using hedonic pricing method. Quadratic transformation was employed for sale size and contract length. Stumpage prices increased with sale size, contract length, bid sales, and the number of bidders. The presence of above average or excellent grade, market conditions, and logging conditions also are positively related to stumpage prices.

• Journal of Korean Society of Forest Science
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• v.108 no.3
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• pp.405-417
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• 2019

We analyzed the profitability of Korea's forestry by evaluating stumpage prices of the main economic tree species. Stumpage prices are evaluated with a market value formula, subtracting logging and transporting costs from market prices of logs. If trees are sold at the current cutting age, the stumpage price of larch is about 4.5 million KRW per hectare and that of Korean pine is about 3.7 million KRW per hectare. The stumpage prices do not cover reforestation cost, which is about 6.1 million KRW per hectare. If government subsidies did not support the cost of reforestation and silviculture, there would be no profits at all. The cost of forestry is very high in terms of planting and silviculture. In the future, the prices of logs are not predicted to rise and the wages for labor are not predicted to fall. Without reforming the current forestry regime, Korean forestry is, thus, not sustainable. Therefore, low-cost forestry efforts like natural regeneration should be adopted to make forestry viable. Investments in forestry infrastructure like forest roads are also required to decrease the timber logging and transporting costs.

• Proceedings of the Korea Technical Association of the Pulp and Paper Industry Conference
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• 2006.06b
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• pp.305-309
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• 2006

This paper presents and illustrates the application of a growth and yield model that supports both forest and mill side volume and value estimates. Traditional forest stand growth and yield models represent the forest landowner view of yield and economics. Predicted yields are estimates of what one would expect from a procurement cruise, and current stumpage prices are applied to investigate optimum management strategies. Optimum management regimes and rotation ages obtained from the forest side view are unlikely to be economically optimal when viewed from the mill side. The actual distribution of recoverable manufactured product and its value are highly dependent on mill technologies and configurations. Overcoming this limitation of growth and yield computer models necessitates the ability to predict and price the expected manufactured distribution of lumber, lineal meters of veneer, and tonnes of air dried pulp fiber yield. With these embedded models, users of the yield simulator can evaluate the economics of possible/feasible management regimes from both the forest and mill business sides. The simulator is a forest side model that has been modified to produce estimates of manufactured product yields by embedding models for 1) pulpwood chip size class distribution and pulp yield for any kappa number (Schultz and Matney, 2002), 2) a lumber yield and pricing model based on the Best Opening Face model developed by the USDA Forest Service Forest Products Laboratory (Lewis, 1985a and Lewis, 1985b), and 3) a lineal meter veneer model derived from peeler block tests. While the model is strictly applicable to planted loblolly pine (Pinus taeda L.) on cutover site-prepared land in the United States (US) Gulf South, the model and computer program are adaptable to any region and forest type.