Scope for processing wood (5)
I believe the answer is:
copse
'wood' is the definition.
(a copse is a small wood)
'scope for processing' is the wordplay.
'for processing' is an anagram indicator.
'scope' anagrammed gives 'COPSE'.
(Other definitions for copse that I've seen before include "Clump of small trees for regular cropping" , "Small group of trees" , "Dense thicket of trees" , "Dense growth of bushes or trees" , "Piece of managed woodland" .)