Hedonic Price Analysis of Teak Logs |
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| Authors: | Muniandy Sivaram Kizhakkoottu Gopinathan Nayana |
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| Institution: | 1. Kerala Forest Research Institute, Peechi, 680 653, Kerala, India
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| Abstract: | Implicit economic values of physical attributes of teak logs (girth, length, straightness and soundness) were estimated using hedonic regression. The influence of spatial and temporal variations on teak wood prices was also estimated. The auction prices of teak wood at various Timber Sales Depots of the Forest Department of Kerala State in India during the period 2006–2010 were used for the study. Traders ascribed over 80 % of variation in teak wood prices to girth, straightness and soundness of logs. A reduction in age at felling of teak plantations in forest areas is proposed. The study also underlines the need to continue tree improvement programs and silvicultural operations for the production of high quality teak wood and thereby increase the profitability of teak plantations. |
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