Other estimates of medicinal plant values

Ruitenbeek (1989) suggests an annual value of $85000 (£50000) for a = 1 for the Korup rainforest in the Cameroon. The relevant area is either 126000 ha (the central protected area) or 426000 ha (the central area plus the surrounding management area), so that per hectare values would be $0.2 to $0.7 per hectare per annum, very much in keeping with the lower end of the range obtained from our own model.

In an interesting contrast to our analysis, in a study of harvesting of medicinal plants in Belize, Balick and Mendelsohn (1992) estimate the local willingness to pay for land. Their annual net revenues are $19-61 per ha, substantially greater than those derived here. This indicates that the value of any given hectare of land may differ quite markedly from the average (of perhaps $20 per ha), as would be expected. Conservation of this particular value of diversity may be used to generate quite substantial values, not in relation to all of the remaining natural habitat but only with regard to some subset of that.

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