Study On Economic Effect Evaluation And Investment Decision-making Of Eucalyptus Industrial Raw Material Forest

In recent years, eucalyptus has become a heated point of forestry investment for its excellent growth and timber quality characteristics. However, the problem of its investment evaluation hasn't been in-depthly researched so far. Therefore, it is significant to research the economic effect evaluation of eucalyptus industrial raw forest.This thesis takes eucalyptus industrial raw forest investment of Yong'an Forestry Group as the objective of research. More scientific theories and methods are applied into its evaluation. By it, several conclusions can be gotten:In the first of place, there is good economic result in investment of eucalyptus industrial raw forest. If the interest rate is 6.76%, then NPV(net present value) will be 3969.73 Yuan per hectare, its annual average profit 1350.25 Yuan per hectare, IRR(internal rate of return) 16.20% which is much bigger than 6.76%. Considering the national financial subsidy, its real interest rate is 3.76%, its NPV will be 6025.39 Yuan per hectare.Secondly, the optical economic mature cutting period of eucalyptus in Yong'an is 7 years. If the forest is cut, not only the annual average profit index but also its NPV and IRR index all will be best.Thirdly, the optical eucalyptus planting density is 1350 trees per hectare. Under this density of planting, its economic result also will be the best of all.Fourthly, there are mainly five sensitive factors to the forestry investment: price of timber, cutting cost, output of timber, planting cost and discount rate. Of all these factors, price of timber is the most influential factor.There is one point worthy to be put up with. Eiecause the discount rate is an important index, in this thesis, the choice of it will be discussed in detail.Lastly, in order to improve the economic effect of investment further, someconstructive suggestions will also be put forward.There are 8 chapters in all in this paper. The first chapter is introduction. The second chapter is the basic analysis of eucalyptus. The third chapter is the theories and methods about economic effect evaluation. The fourth chapter is how to choose a rational discount rate. The fifth chapter is to fix the optimal economic mature cutting period of eucalyptus. The sixth chapter is to confirm the optimal level of investment. The seventh chapter is the analysis of sensitivity. The last chapter is the conclusions and discussions.