Financial viability of charcoal production in different forest management systems in Brazil

The objective of this study was to evaluate and financially compare the forest management system in alternates bands (MAB) and the selective management system (SS). The study was carried out at the MAGELA Project, located in the municipality of Codo, state of Maranhao, Brazil. The data was collected in six permanent plots of 50 x 200 m, located in the Annual Production Units (APU) no 01 and 02. In the financial analysis, the net present value was used for infinite horizon (NPV*), land expected value (LEV), equivalent annual value (EAV), benefit/cost ratio (BCR), internal rate of return (IRR), average production cost (APC) and an annual discount rate of 9.0 %. The MAB system was more financially viable for annual discount rates below 9.9 %. However, at annual discount rates equal to or greater than 12 %, the SS system was economically viable.