Ljiljana Keca

Estimation of cost-effectiveness of poplar wood production in poplar plantations in Ravni Srem based on the method of pay back period.

Poplar plantations are a category of fixed assets in forestry, i.e. the n assets with a biological character. They are related to their site, they are n cultivated for a relatively long time and they have a relatively long n utilization cycle, with the yield development determined by the plantation n growth and age. Plantations transfer their value gradually to the obtained n products during the period of their harvesting, and, by the realization of n the products, the means invested in the plantation establishment are n reproduced. The period of investments in poplar growing can be relatively n long, and so is the period of harvesting. Therefore, it is important to n determine the time of the return of the capital invested in these and similar n plantations. This paper presents the analysis of commercial profitability of n poplar cultivation according to the indicator for the assessment of projects n in agriculture and forestry - pay back period. The application of pay back n period (PBP) calculation can affect greatly the reliability of predicting the n degree of economic effectiveness of investments, and also the potential risks n for the investor in his decisions on the investments in poplar cultivation. n The analysis of poplar clone I-214 plantations was carried out in the area of n Ravni Srem, under different rotations and soil types. Based on the analysis n of costs and receipts in different plantation ages, and using the method of n pay back period, the objective of the study was to evaluate the possible pay n back period of invested capital in wood production in poplar plantations. PBP n is practically unacceptable by the investor under the discount rate of 6%. n The most favorable situation is in the youngest stands, using the discount n rate of 2%. The situation regarding the pay back period in the over-aged n stands is utterly unfavorable, so the credit cannot be repaid under any n conditions. This fact supports the idea that the production cycle length n should be shortened.

Analysis of marketing mix elements of non-wood forest products in central Serbia

Demand for high-quality products of biological origin has been increasing, in n accordance with changes in objectives of forest management, which are caused n by socio-economic development. Although non-wood forest products (NWxadFPs) n have been collected and used for generations, only in recent decades their n importance has been recognized. The aim of this paper is to analyze marketing n strategies of companies involved in processing and distribution of NWFPs. Due n to the specificity and comprehensiveness of the problem, the various general n and specific methods and techniques, which are used in the study of marketing n elements, have been applied. A’WOT analysis was applied in order to better n interpret results of SWOT analysis. The survey was conducted among small and n medium enterprises dealing with NWFPs in central Serbia. Conducted research n determined the most important final products, prices, types of promotion and n structure of distribution channel.

Capital Budgeting Applied to Serbian Poplar Plantations

Background and Purpose: Capital budgeting is the process in which a business determines and evaluates potential large expenses or investments. These expenditures and investments include projects such as building a new plant or investing in a long-term venture. In the case of poplar plantations in Serbia, a prospective projects lifetime cash inflows and outflows can be assessed in order to determine whether generated potential returns meet a sufficient target benchmark, also known as investment appraisal. The purpose of this study is to show relative profitability of alternative courses of action in

Use of panel data in function of market research of non-wood forest products in Serbia

In the context of market research, special attention is paid to the analysis of data based on time series. In this research the focus is on the panel analysis. The survey was conducted in Central Serbia within the companies engaged in purchasing, processing and sales of non-wood forest products (NWFPs). The aim of the research was to investigate the influence of independent variables (placement on the domestic market, export and sales prices of NWFPs) on the dependent variable – purchase of raw products. The purpose of the research was to emphasize the importance of certain factors that influence the purchase of raw materials. The subjects of research were: companies operating on the territory of central Serbia, purchase quantity, placement on the domestic market and export, as well as the prices of final products.