Current issue: 54(2)
An estimate of value of a forest holding is needed, for instance, when the holding is sold. There is, however, no standard method for forest valuation. This paper describes a method based on yield in terms of value that is estimated on the basis of cutting budget. The first, mensurational part of the investigation concentrates on calculation of cutting budget that can be used in forest valuation. Second part studies how chronological order of fellings changes allowable cut in forests that differ by age-class distribution and other structural properties. Structure and variation in the structure of silviculturally different forests are determined for the forests that form the data for the investigation.
According to the study, even if the forests studied in the investigation included forests which structure differed in their age-class distribution from normal forests, they could be managed in a such way that in 5-6 decades the age-class distribution resemble that of a normal forest, and have growing stock that correspond the stock of forests in Southern Finland, about 80-110 m3/ha. Based on this, the cutting budgets of the later decades of the first rotation can be assumed to be nearly even. The original age-class distribution of the forest affects, however, allowable cut of the forests during the first decade. The revenues of the first decade have small impact on the value, the later decades strong. Consequently, development of the most valuable part of the allowable cut, timber trees, has big impact on the value. The results show that in young forests the planned cut including the proportion of timber trees increases, in middle-aged forest it is relatively even, and in old forest declining. The results indicate the order of magnitude the planned cut can be in near future in diferent kinds of forests, and when different felling regimes are used to reach different goals.
The PDF includes a summary in German.
The aim of the study was to develop a method for calculating a cutting budget that is adapted to the present forest management practices. The cutting budget determines the volume of annual cuttings for a forest holding in a certain period of time. Effect of fellings on the cutting budget depends on the cutting methods used. The study aimed at proving that growth of the forest can be estimated based on growing stock and structure of the forests for a certain time period. Accordingly, adequate drain can be defined in advance. The cutting budget is based on age-class distribution of the forest holding, which is most applicable for even-aged forestry. Calculation is based on area of the forest land and estimated volume of the growing stock. Also, the quality of the forest soil can be taken into account when age-class distribution is used. A suitable period for estimating a cutting budget is suggested to be 20 years, which is divided in two 10-year periods. The cutting budget it is included in a forestry plan. An example of a cutting plan based on the method is presented.
The PDF includes a summary in German.
The aim of this paper was to study the nature of the relative areal differences in the Finnish forests in respect of timber yield, intensity of exploitation and stumpage prices. The yield index is the most inconsistent and the source of the greatest regional differences. The differences arise even in Southern Finland, as the yield in the South-West is only 80 % of that obtained in Eastern Häme. The areal variations in the wastage index are of the order of only 10 % at most, and the stumpage price index is relatively constant, remaining within the 10 % limit, as far north as the southern boundary of the province of Oulu.
Indices for the forest yield and final forest returns suggest that the further one goes in Finland the greater the discrepancy between the two, as a consequence of the increase in stumpage price differences. Thus, whereas the yield per hectare in North-Eastern Finland is about 20 % of that in Eastern Häme, the stumpage price is similarly only just over 50 % of that prevailing in the latter area. This, the resulting returns per hectare are only 10 % of those obtainable in the more southerly area. When the return per hectare for the Forestry Board District of Eastern Häme is represented by the index 100, one then obtains corresponding return indices of 21.0 for the Northern Ostrobothnia and Kainuu area, 13.0 for Lapland and 10.0 for North-Eastern Finland. Thus, it may be said that roughly 10 hectares of forest land in Lapland, 5 in Northern Ostrobothnia or Kainuu, or 2 in Northern Karelia or the coastal area of southern and central Ostrobothnia would be required to produce the same returns as 1 hectare in Eastern Häme. This represents an extremely wide range of variation within the borders of one country.
This work provides a clear and sufficiently accurate impression of the order of magnitude of the areal differences in returns from the Finnish forests, and may thus serve as an adequate basis for the taking of decisions in this field.
The PDF includes a summary in English.