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6.0 ECONOMICS OF PEATLAND EXCAVATION . <br />6.1 Annual Revenues of the Peat Extraction Industry <br />This section of the report identifies the market value of <br />peat extracted in the state. It does this by considering: 1) the <br />quantity sold; 2) the form in which it is sold; 3) its typical <br />price; and, 4) the variability in these factors. <br />In section 3.3 it was calculated that the peat extraction <br />industry in Colorado annually removes more than 100,000 cu.yds of <br />reed -sedge peat. This is the only type of peat in the state that <br />is commercially excavated. Approximately 80 to 90 percent of <br />this is excavated in Park and Teller Counties. <br />Excavated peat is sold in either bulk or packaged forms. <br />Packaged peat is sold both inside and outside of the state, while <br />bulk peat is only sold inside the state. <br />The price of peat is dependent upon, among other things, the <br />form in which it is sold. Packaged peat, because of processing, <br />bagging, and shipping costs is the most expensive form. The <br />retail price is variable from year to year, but is usually <br />between one and two dollars per forty pound bag. In 1989, a <br />forty pound bag, sold at the retail level, cost about $1.59. <br />This is equivalent to a price of about $40.00 per cu.yd.. <br />In 1989, retail prices for bulk peat ranged from a low of <br />$19.50 per cu.yd, to a high of $23.00 per cu.yd.. The mean was <br />54 0 <br />