Financial impact evaluation of catastrophic storm damage in Irish forestry: a case study. I. Stumpage losses

Citation
M. Nieuwenhuis et E. O'Connor, Financial impact evaluation of catastrophic storm damage in Irish forestry: a case study. I. Stumpage losses, FORESTRY, 74(4), 2001, pp. 369-381
Citations number
13
Language
INGLESE
art.tipo
Article
Categorie Soggetti
Plant Sciences
Journal title
FORESTRY
ISSN journal
0015-752X → ACNP
Volume
74
Issue
4
Year of publication
2001
Pages
369 - 381
Database
ISI
SICI code
0015-752X(2001)74:4<369:FIEOCS>2.0.ZU;2-2
Abstract
An occasional feature of the windy and oceanic Irish climate is the occurre nce of storms, which cause damage to forests on a catastrophic scale. Such storms can result in substantial economic losses. The objective of the rese arch presented in this paper was to identify factors influencing, and metho ds of quantifying, the economic impact of catastrophic storm damage in fore stry. In this, the first of two articles, the results of the analysis of sh ort-term impacts on stumpage prices are presented. The study was based on d ata from stands which were wind thrown in the south of Ireland during a sto rm on 24 December 1997. Coillte's southern region, which covers all the for ests in Counties Cork and Waterford, most in County Kerry and some in Count y Limerick, was used as the territorial and administrative basis for the st udy. Regional analysis of invoiced sales for 1998 showed that wind-thrown m aterial had stumpage prices on average 10.5 per cent or IR pound2.68 per m( 3) less than those obtained for equivalent regular clearfell material. Thes e losses were attributed to increased harvesting costs (1.84 per cent), mor e downgrade of sawlog and pallet material (4.47 per cent) and more uncertai nty for the purchaser (4.19 per cent). As the volume of wind-thrown materia l harvested in the region in 1998 was 171537 m(3), the overall short-term l oss in revenue was almost IR pound 460000.