Economic Evaluation of Cyclic Regimes in Beech (Fagus sylvatica L.)

A general model for comparing the profitability of natural regeneration in beech (Fagus sylvatica L.) with planting of Norway spruce (Picea abies L.) is developed. The model is basically a method of comparing a series of net present values. An example of using the model is given: BEECH (90-110) denotes a cyclic regime in which regeneration is initiated at age 90 of a stand, and the canopy trees are cleared at age 110. This regime is compared with the alternative of planting Norway spruce. Economic data used for the comparison are representative of the southeastern regions of Denmark. The conclusion of the comparison is as follows: BEECH (90-110) is superior to planting of Norway spruce for required real rates of return up to 3-4%. For higher required rates of return planting of Norway spruce is preferable.