Table 2 Values of Model Parameters for...

Table 2

Values of Model Parameters for Base Run.

Parameter	Value
Agriculture dividend rate ( δ )¹	0.03
Risk adjusted discount rate (i)¹	0.053
Minimum rotation age $(m$ ⁠)²	19 years
Maximum rotation age²	35 years
Maximum mean annual increment (pulp) ( $v_{s}^{p} / s$ )	$16.7 m 3 / h a / y r$ at 24 years
Maximum mean annual increment (ethanol) ( $v_{s}^{e} / s$ )	$21.0 m 3 / h a / y r$ at 24 years
Ethanol conversion factor $(θ$ ⁠)³	$115.2 L / m^{3}$
Processing cost for ethanol $(c_{s}^{e})$ ³	0.54 $/L
Conversion cost: plantation to agriculture (C^fa)⁴	354 $/ha
Cost to establish a plantation $(C)$ ⁵	2755 $/ha
Transport cost for 50 km hauling distance.	$$ 6.75 / m 3$
Harvest Costs at maximum mean annual increment (age	$13.1 $ / m 3 (h_{s}^{e})$
24 years) ( $h_{s}^{e}$ ⁠, and $h_{s}^{p}$ )	$13.3 $ / m 3 (h_{s}^{p})$
Mean of pulpwood prices ( $p_{t}^{p}$ )	$43.00 $ / m^{3}$
Mean of ethanol prices ( $p_{t}^{e}$ )	0.60 $/L
Agriculture land value ( $X_{t}^{a}$ ) at $t = 0$	2000 $/ha
Ethanol Price Increase (d)	0.11 $/L

Parameter	Value
Agriculture dividend rate ( δ )¹	0.03
Risk adjusted discount rate (i)¹	0.053
Minimum rotation age $(m$ )²	19 years
Maximum rotation age²	35 years
Maximum mean annual increment (pulp) ( $v_{s}^{p} / s$ )	$16.7 m 3 / h a / y r$ at 24 years
Maximum mean annual increment (ethanol) ( $v_{s}^{e} / s$ )	$21.0 m 3 / h a / y r$ at 24 years
Ethanol conversion factor $(θ$ )³	$115.2 L / m^{3}$
Processing cost for ethanol $(c_{s}^{e})$ ³	0.54 $/L
Conversion cost: plantation to agriculture (C^fa)⁴	354 $/ha
Cost to establish a plantation $(C)$ ⁵	2755 $/ha
Transport cost for 50 km hauling distance.	$$ 6.75 / m 3$
Harvest Costs at maximum mean annual increment (age	$13.1 $ / m 3 (h_{s}^{e})$
24 years) ( $h_{s}^{e}$ , and $h_{s}^{p}$ )	$13.3 $ / m 3 (h_{s}^{p})$
Mean of pulpwood prices ( $p_{t}^{p}$ )	$43.00 $ / m^{3}$
Mean of ethanol prices ( $p_{t}^{e}$ )	0.60 $/L
Agriculture land value ( $X_{t}^{a}$ ) at $t = 0$	2000 $/ha
Ethanol Price Increase (d)	0.11 $/L

Sources:

Derived from agriculture land value data, CANSIM series v381841.

Based on model simulations.

Based on Phillips et al. (2007); Kazi et al. (2010a,b), National Research Council (2009). The assumed technology is Dilute Acid Prehydrolysis with Saccharification and Cofermentation.

D.A. Westworth and Associates (1994), adjusted for inflation.

Tim Keddy, Canadian Wood Fibre Center, (personal communication 2013).

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