ABSTRACT
This study was conducted for Pinus elliottii Engelm. at Serra do Sudeste, Rio Grande do Sul, with the following objectives: to check production costs and possible revenues; to perform the economic and financial analysis of Pinus elliottii's wood production under regional conditions; and to determine the rotation of maximum Net Present Value (NPV). The costs for planting the stands were estimated at $2,292.09/ha and the annual maintenance ranged from R$ 134.84 to R$ 363.98 per hectare. Departing from the Site Index 28, with NPV of R$ 1,147.17/ha, Pinus' wood production becomes interesting. At the IS 26, with 6.86% Internal Rate of Return (IRR), it would be possible to pay the 6.75% Propflora's interest. Analysis of different rotations for IS 28 showed maximum VPL with rotation of 26 years, thinning in cycle of 4 years, starting up the cuts to 10 years. The economic analysis was performed with considerable caution, using productivity moderated levels, costs within patterns that can be considered between middle and high and moderated prices for today's wood market. Even with the restrictions imposed on the analysis, results are promising; especially in view of the regional market prices' increase tendency and the probability of wood veneer industries comes to absorb the larger log's size production in a closed future.
Keywords:
Pinus; yield; profitability