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12 December 2018 | Story Thabo Kessah | Photo Thabo Kessah
Prolific Researchers
Qwaqwa Campus prolific researchers, Drs Tom Ashafa, Maria Tsakeni, and Rodwell Makombe flanked by the Vice-Rector: Academic and Research, Prof Corli Witthuhn(far left), and Acting Campus Vice-Principal: Academic and Research, Dr Jared McDonald(far right).

The Centre for Teaching and Learning (CTL) on the Qwaqwa Campus recently presented deserving academics with awards in recognition of their innovative teaching and learning practices.

“These annual awards are aimed at encouraging our academics to put extra effort in their different disciplines, as well as making valued contribution towards the advancement of the scholarship of teaching and learning at the University of the Free State,” said Fred Mudavanhu, Deputy Director: Centre for Teaching and Learning.

“To be considered for an award, academics had to apply. The adjudication panel was made up of three reviewers – one each from the Qwaqwa and Bloemfontein Campuses, as well as an external adjudicator,” added Mudavanhu. The three categories were Departmental Awards, Research in Teaching and Learning, and Innovation in Teaching and Learning.

The winners were as follows:

Departmental Award – Sociology

Winners: Nhlanhla Ndlovu and Cebelihle Sokhela

Research in Teaching and Learning

Winner: Dr Maria Tsakeni (School of Mathematics, Natural Sciences and Technology)

Innovation in Teaching and Learning

Winner: Marthinus Delport (Industrial Psychology)

First runner-up: Marne van Niekerk (Accounting)

Second runner-up: Michaela Martin (Political Studies and Governance)

Third runner-up: Dr Cias Tsotetsi (School of Education Studies)

Meanwhile, the Academic and Research office also awarded outstanding researchers at the same ceremony. The winners were as follows:

Prolific Researchers

Faculty of Education – Dr Maria Tsakeni

Faculty of the Humanities – Dr Rodwell Makombe

Faculty of Natural and Agricultural Sciences – Dr Tom Ashafa

Faculty of Economic and Management Sciences – None

Best Emerging Researchers

Faculty of Education – Dr Bekithemba Dube

Faculty of Economic and Management Sciences – Marthinus Delport and Marne van Niekerk

Faculty of the Humanities – Dr Tshepo Moloi and Bianca Naude

Faculty of Natural and Agricultural Sciences – Dr Kamohelo Tshabalala

Lifetime Achievers

Prof Birhanu Dejene

Prof Rodney Moffett

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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