Non-timber Forest Use and Effect On Rotation
So far in our analysis we have only calculated the optimum age of rotation in terms of timber production, but as we incorporate various other non-timber forest products (NTFPs) that are derived from the forest, the optimum rotation age changes significantly. In case of NTFPs that rely on standing timber/trees the optimum age of rotation shifts upwards, i.e. the rotation age moves up. It can be illustrated with the help of following diagram.
Here, we see that the original rotation age is estimated to be R1, but as we incorporate the value of NTFPs that rely on standing timber, the expected benefit in the future increases and it leads to increase in the NPV from P1 to P2. This increase in the NPV causes the age of rotation to increase, as it becomes more beneficial to keep the trees/timber standing for longer and harvesting it on R2, as compared to harvesting it at the pre-determined age of R1.
Read more about this topic: Optimal Rotation Age
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