Latest News Archive

Please select Category, Year, and then Month to display items
Categories
UFS News Media Release Research
Years
2017 2018 2019 2020 2021 2022 2023 2024
Months
January February March April May June July August September October November December
Previous Archive
04 December 2018 | Story Lacea Loader | Photo Stephen Collet
Regional confrence read more
From the left: Prof Henk de Jager, Vice-Chancellor and Principal, Central University of Technology; Prof Yunus Ballim, Vice-Chancellor and Principal, Sol Plaatje University; Mrs Dipiloane Phutsisi, Principal of Motheo TVET College; Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs and Community Engagement at the UFS; Prof Nicky Morgan, Coordinator of HERDIC, and Mr Mr Brian Madalane, Principal of the Northern Cape Urban TVET.
Five post-school education institutions in the central inland region have established an initiative to collaborate in a number of focus areas to the benefit of communities in the region.
 
Established during an inaugural meeting in Bloemfontein on 14 November 2018, the Higher Education Regional Development Initiative of Central South Africa (HERDIC - SA) will collaborate in a manner that delivers operational and academic benefits to each institution, increase benefits to communities in the region, and responds to the need for high-level learning opportunities in South Africa. The collaboration with critical stakeholders in support of development in the region, as expressed in the partnership of teaching, learning, research, and engaged scholarship aspirations and the pursuit of mutually beneficial synergies and benefits of scale in critical support structures, was highlighted.

During the inaugural meeting, it was unanimously agreed that working together for enhanced access to higher education, staff development, and student welfare initiatives, as well as regional collaborations with the wider public sector and business, could have a transformative effect on the capacity and sustainability of the communities in the central inland region. The five institutions that form part of the initiative are: Motheo TVET College (Bloemfontein); Northern Cape Urban TVET College (Kimberley); Sol Plaatje University (SPU) (Kimberley); University of the Free State (UFS) (Bloemfontein and Qwaqwa Campuses); and the Central University of Technology, Free State (CUT) (Bloemfontein and Welkom).
 
During the meeting, the importance of collaboration between higher-education institutions and colleges of technical and vocational education training in creating synergies and leveraging joint capabilities to enhance development, was highlighted. The focus areas that HERDIC – SA will work on, include operational efficiencies (including shared services), articulation between the institutions (including teaching and learning), research and innovation, community engagement (including marketing and communication), and staff development.
 
The operational model will consist of task teams for each of the focus areas, consisting of representatives from each member institution. The task teams will report to a steering committee. It is envisaged that HERDIC – SA will be operational by March 2019.


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


We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept