https://www.srs.fs.usda.gov/pubs/ja/2020/ja_2020_frey_001.pdf

Global timber investments, 2005 to 2017

Climate variability in recent decades has intensified in the SSA region, which makes it imperative to explore adequate adaptation and mitigation strategies to offset its current and future adverse impacts. Farmers' perception of climate variability can significantly influence their coping, mitigation, and adaptation potential. This study assessed farmers' perceptions of indicators and consequences of climate variability and explored factors influencing their perception of climate variability and adoption of climate coping strategies. A cross-sectional survey design was used to sample 300 farmers in the Central Highlands of Kenya. Binary logistic regression models were used to determine factors that influenced the perception of climate variability, adaptation, and mitigation strategies based on three predictor sets, including socioeconomic, institutional, and environmental dimensions. Three climate adaptation and mitigation strategy groups adopted by farmers, including crop adjustment, nutrient management, and soil and water management practices, were subjected to binary logistic regression models. The core determinants of farmers' perception of climate variability included tropical livestock unit (TLU, p = 0.008), access to agricultural training (p = 0.022), change in agricultural production (p = 0.005), change in forest cover (p = 0.014), soil fertility status (p = 0.039), and perceptions of soil erosion (p = 0.001). Most farmers reported changes in all climatic indicators during the decade preceding the survey, including increasing temperature (80%), reduced precipitation (78%), and declining season lengths (76%). There were significant relationships between climate variability perceptions and coping strategies, with the soil and water management set showing stronger links with climate perceptions compared to crop adjustment and nutrient management strategies. Critical mitigation and adaptation strategies to cope with climate variability implemented by farmers included the use of fertilizer and manure in combination (71%), terracing (66%), and crop rotation (60%). Farmers' perceptions significantly determined the adoption of climate-smart agriculture technologies, and environmental determinants strongly influenced climate variability coping strategies. Therefore, while formulating climate sustainability-related policies, farmers' perceptions should be considered.

Determinants of farmers' perceptions of climate variability, mitigation, and adaptation strategies in the central highlands of Kenya

Forest plantations have expanded rapidly in response to financial support from the state and local governments and have had significant positive impacts on rural livelihoods and development in Vietnam, since the late 1980s. This study used net present value (NPV) and internal rate of return (IRR) to examine the economic performance of plantations for three species, Acacia mangium Willd, Eucalyptus (Eucalyptus urophylla S.T. Blake × Eucalyptus camaldulensis Dehn), and Manglietia conifera Dandy, in Bac Kan province. On the basis of an annual discount rate of 6%, the results showed that rural households earned positive financial returns from forest plantations with seven-year rotations. Eucalyptus generated the highest NPV but A. mangium generated the greatest IRR. The plantations were facilitated by financial support from the state, land tenure reforms, and wood exports. The results provide valuable business information and policy implications for both local farmers and policy makers. Since the farmers consider more of the short term and economic return of the plantations, the results provide valuable information for policy makers to apply subsidies and other support to promote plantations with significant ecological and environmental benefits for sustainable development of rural economies.

https://www.mdpi.com/1999-4907/11/3/284/pdf

Economic Performance of Forest Plantations in Vietnam: Eucalyptus, Acacia mangium, and Manglietia conifera

Dynamics of global roundwood prices – Cointegration analysis

Are Timber and Water Investments Safe-Havens? A Volatility Spillover Approach and Portfolio Hedging Strategies for Investors

Financial returns of forest plantations are an important concern around the world. In this research, we focused on South China’s timber investments, collected data from the Pingxiang, Guangxi Province, China, which is the demonstration zone of Fast-growing and High-yielding Timber Plantation Base Construction Program and National Timber Strategic Storage and Production Bases Construction Program, and used capital budgeting analysis method and sensitivity analysis to compare different scenarios of planted forest management. The results showed that excluding land costs, (1) the financial returns of Eucalyptus forest managed by small business were excellent, having an IRR of 28% per year and a LEV of $7555 per ha, but it had a high risk with fluctuations of cost, timber price and timber yield; (2) the results for the Experimental Center of Tropical Forests indicate that the Eucalyptus forest and Castanopsis hystrix forest returns were greater than those for Cunninghamia lanceolata forest and Pinus massoniana forest, with having IRRs of 24%, 21%, 13% and 10% per year respectively. The mixed planted forest of Castanopsis hystrix × Eucalyptus and Castanopsis hystrix × Pinus massoniana had the features of high profits and low risks; (3) the forest farmers had lower levels of returns for Eucalyptus forest management in South China, but were still in the middle rank of global comparisons. This study gave a view of China’s timber investment and provided more options of improving the economic returns of planted forest management to both small businesses and forest farmers in South China.

/pdf/an-analysis-of-potential-investment-returns-of-planted-b26sq7s8hp.pdf

Pu Zhang

Papers

Global timber investments, 2005 to 2017

An analysis of potential investment returns of planted forests in South China