Stumpage

Stumpage is the price a private firm pays for the right to harvest timber from a given land base. It is paid to the current owner of the land. Historically, the price was determined on a basis of the number of trees harvested, or "per stump". Currently it is dictated by more standard measurements such as cubic metres, board feet, or tons. To determine stumpage, any stand that will be harvested by the firm is first assessed and appraised through processes aimed at finding the volume of timber that is to be harvested. A given stumpage rate, measured in $/volume, is then applied to the amount of timber to be harvested. The firm will then pay this price to the landowner.^[1]

Canadian forests exist mainly on what is considered to be crown land, under the provincial governments' control. On Canadian crown land, stumpage is known as the market value of standing trees that must be paid by firms for the right to harvest timber, currently measured in $/cubic meter. In Canada, legislation dictates the method by which stumpage fees are calculated according to market conditions. Each Canadian province has its own calculation method based on market-based benchmark prices. Long-term agreements are reached regarding the management and harvesting performed on each province's crown land. These long term agreements, are "rolling renewable" provisions, whereby the firm has fulfilled all the obligations associated to it.

In the United States, much of the land used for harvesting timber is private wherein, "stumpage prices are determined by the market".^[2] Competitive auctions determine the stumpage fees to be paid. The difference between the cost of acquisition of harvested timber between the United States and Canada is the cause of the ongoing Canada-United States softwood lumber dispute. The United States' representatives claim the Canadian system of determining stumpage fees amounts to a subsidy. Canadian representatives deny this.

The OECD has three methods that can be applied to value standing timber.

Net present value. Valuation method to value stocks of natural resources. It is obtained discounting future flows of economic benefits to the present period.

St = Σ ( At * pT * QT) / (1 + r)T−t

Only receipts from harvesting mature timber are included. To reach the net present value, discounting using a discount rate of r for each of the (T−t) years until harvest must be applied.

Método del valor en pie . Un método simplificado del valor actual neto donde el valor de las existencias se obtiene multiplicando el volumen actual de madera en pie por su precio en pie, suponiendo que la tasa de descuento es igual a la tasa de crecimiento natural.

S = A * p * Q

Valor de la madera en pie = Área * precio por m³ ^* Cantidad de madera.

Método del valor de consumo. Una variante del método del valor en pie. Se utilizan precios diferentes para distintas edades o clases de diámetro. El método del valor de consumo mide el valor de la masa forestal como si se cortara en su totalidad ahora. ^{[ 3 ]}

S = Σ At * pt * Qt

Valor de la madera en pie = Suma de las áreas de madera de diferentes épocas o edades * precio por clase de madera de diferente época o edad * Cantidad de madera de cada época o edad.

• Disputa entre Canadá y Estados Unidos sobre la madera blanda
• Fórmula de Faustmann
• Propiedad de la tierra en Canadá
• Regalías
• Impuesto sobre la extracción de recursos