The objective of the present study was to estimate the optimum cutting cycle and harvest stock, where forest annual growing rate equals the annual interest rate offered by the financial market. The research was carried out at the Forest Management Unit (FMU) in Tracajás Farm (02º35'53" S and 47º47'10"W), owned by Nova Era Agroflorestal, in Paragominas, Pará, Brazil. The forest was stratified in three homogeneous areas denominated classes of volumetric stock I, II and III, through multivariate analysis (cluster and discriminant analysis). In each of the stock classes, five 100 x 100 m plots (1 ha) were randomly set up to measure individuals with dbh > 15cm. In the center of each 100 x 100 m plot, a 10 x 100 m subplot (0,1 ha) was installed to measure individuals with 5cm < dbh < 15 cm. In stock class I, the optimum economic cycles were 13, 12, and 8 years; in stock class II, 18, 12 and 12 years; in stock class III, 22, 12 and 14 years, considering an average annual increment of 3,0 m³/ha/year. Higher remuneration rates for the invested capital were verified for the shorter cutting cycles, regardless of the commercial harvest. Higher annual volume increments resulted in a higher valorization of the forest. Higher harvested volumes implicated in longer cutting cycles for a same forest growing rate. However, within certain limits, higher harvested volumes can biologically result in higher growing rates of the remaining stock. This occurs mostly when silvicultural treatments are applied.
Tropical forest; stock classes; cutting cycle; economic analysis
