stumpage

noun

1. (countable, uncountable)Trees and other standing timber, treated as a commodity.

   “C. S. Sargent Only trees above a certain size are allowed to be cut by loggers buying stumpage from the owners of land.”

2. (countable, uncountable)The value of this timber.
3. (countable, uncountable)The right to fell such timber.
4. (countable, uncountable)The fee for the right to fell such timber.

   “The cost of getting logs from the stump to the various sawmills, including cutting, hauling, driving, boomage, shorage, tolls, and other expenses, is, on an average, from $8 to $8.50 per 1000 feet. The average cost of stumpage is $2”