| Eucalyptus spp is much welcomed in the market due to its properties such as rapid growth,good timber quality, wide uses and short cycles, and plays an important role in the Forestryconstruction of Fujian Province with the annual planting area of 13000 hm~2. However, the issueslike economic efficiency and risk level of Eucalyptus spp forests used as raw materials for industrywith short cycles have never been further studied. Accordingly, there is an important point in boththeoretical value and practical guide to positively conduct the study on the economic efficiency ofits raw material forests for industry with short cycles.With raw material forests of Eucalyptus spp for industry from Fujian Yong'an Forestry (group)Limited Liability Company as the research subject, and the smallest accounting unit-area as thecalculating unit, and also by the application of capital-time value theory, sample plot and sampletree method, and experimentation in works and laboratory, Eucalyptus spp is studied and analyzedscientifically from a set of aspects, such as the influence on the raw material forests of Eucalyptusspp with short cycle for industry that the management regulations for logging have, the time oftechnical maturity needed by raw material forests of Eucalyptus spp for industry, the initial plantingdensity, the study on economic efficiency of the every year of management, the exploration oneconomic efficiency of forest-board integration, the retrospect of management disasters and the riskanalysis in raw material forests, and sensitivity analysis. There are conclusions as follows:(1)The economic efficiency and benefit that raw material forests of Eucalyptus spp for industryhas is good to a slightly lesser extent, and with the time of the silvicultural production grows, theeconomic efficiency is higher and the IRR increases year by year. The annual interest rate in therange of 3 to 5 years is 5.85%, while over 5 years is 6.12%; the IRRs lasting from 5 to 10 years arerespectively 6.6%, 9.85%, 12.25%, 12.95%, 13.06%, 13.75%; the NPVs lasting from 5 to 10years are￥21.03,￥133.11,￥283.08,￥386.93,￥463.41,￥609.89 respectively, and therecycle period of dynamic investment is 4.86 years.(2)The (the raw material forests of Eucalyptus spp with short cycle for industry) optimumplanting density is 110 per acre. Choose 110 per acre if the forestation is carried on before April,and 130 per acre is advisable if after April.(3)In the light of the annually average growth yield, the quantitative maturity period of the rawmaterial forests of Eucalyptus spp with short cycle for industry is 4～5 years, timber production peracre is 9.5m~3. When the raw material forests for industry are used as the raw material timber forfiberboard, then the technical time of timber has no limitation and the harvest cutting time shouldbe 4 to 5 years; and as the raw material timber for plywood, the technical maturity time is 6 yearsand the harvest cutting time is supposed to be over 6 years.(4)Considering forest-board integration on the whole, the quantitative maturity age of the rawmaterial forests is 6 years (that is, harvested at the end of the 6th year), and the economicalmaturity age is 10 years (that is, harvested at the end of the 10th years). Given the quality of plywood, the harvest cutting age should not be less than 6 years; while it should be 10 years if theenterprise wants to generate the maximum profit. As for the forest-board integration of theenterprise, the average NPVs from 4-year duration to 10-year duration are￥61.9,￥96.5,￥108.04,￥120.6,￥121.1,￥119.4 and￥23.9 respectively.(5)Fertilization production has obvious fertilization effect, and the fertilization is anindispensable measure in silvicultural production.(6)The deforestation and the invasion of forest land are the greatest risks in the management ofthe industrial material forests of Eucalyptus spp; the different sensitivity factors have a hierarchy ofeffects on NPV and IRR from strong to weak, as follows: the selling price of the timber, theproduction cost of the timber, the timber production, the silvicultural cost and the interest level. Asthe silvicultural cost and the production cost of the timber do not occur simultaneously, there isgreatest possibility that the production cost of the timber and the selling price rise at the same time,and the realistic management effect is likely to be bigger for the industrial material forests ofEucalyptus app. |
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