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14 February 2018 Photo Moeketsi Mogotsi
Countdown to music, art and fun as Kovsie ACT festival approaches
Kovsie students in the process of building their Eco vehicles

The countdown has begun to the Kovsie-ACT music festival that will take place on 17 February 2018 at the Cross Country Fields.

With just a few days left before the main event where students and the community will be wowed by performances from the likes of Prince Kaybee, Jack Parow and Shekinah, students can look forward to the "Social Cohesion" college festivities namely: the West College Project Neon party, East College Graduation party, Central College Yellow party, South College Feballoween party, North College Cowboys and Crooks party, and finally the Kovsie-ACT Fiesta Mexican party.

Each day leading up to the main event, senior on-campus residence students will be working on the building of their various Eco vehicles. Students will be grouped in their designated colleges at the UFS Rag Farm, with the support of the first-years, pending the Eco vehicle race that takes place on Friday 16 February 2018 from 13:00. The ACT office is working towards obtaining sponsors for the overall winners of the race. Their aim is to give the college that wins the race a-once-in-a-lifetime opportunity to attend an official international car race, where they will be represented by their residence committees. The following race criteria apply: 

Race criteria:

Drag race

Fastest time taken to cover distance wins

Slalom race

Fastest time taken to complete course minus penalties

Obstacle course

Fastest time taken to complete course wins (Obstacles will be introduced on the day, no preparation)

Three lap-race

No winner, just preparation for final endurance race but drivers must change each lap

Endurance race

Longest distance covered

 

Students will also be working on art projects in the form of a canvas that must be made of waste materials such as plastic, scrap metal and/or sustainable organic materials. The work must be between three and five metres high and two to four metres wide. It should be durable and not perish if it is placed outdoors for a year. It must be accompanied by a manifesto that explains the theme and symbolism of the artwork so that the five colleges can effectively illustrate what is important to them and their community.

First-year students have also been assigned to participate in projects that engage with local secondary schools in the Bloemfontein area. The content of the projects will be directed through a short learning programme that will take place during the course of the year.

The Kovsie ACT team looks forward to the activities at the Rag Farm, and encourages students to attend and take part in their numbers. For more information about Kovsie ACT visit the UFS Rag page or the Ofm official website.

 

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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