stumpage
/ˈstʌmpɪdʒ/
noun
- The value or price of standing timber (trees that have not yet been cut down), especially as a resource for logging.
- The government auctioned off the stumpage rights to several logging companies.
- Stumpage rates have increased this year due to high demand for lumber.
- The company paid a high stumpage fee to harvest the pine forest.
- The right to cut and remove standing timber from a piece of land.
- The landowner sold the stumpage to a local sawmill.
- They purchased stumpage on 200 acres of state forest.
- Stumpage is often leased to loggers for a fixed period.