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02 February 2018
Public lecture focuses on diversity as foundation for equality
Prof Shaun de Freitas (Department of Public Law), Dr Mwiza Nkhatha (Postdoctoral fellow at the Centre for Human Rights), Prof Iain Benson and Prof Jan Pretorius (Centre for Human Rights)
The Free State Centre for Human Rights at the University of the Free State (UFS) held a public lecture at the Bloemfontein Campus on 30 January 2018 titled Putting religion in brackets: the importance of diversity in the public square by Prof Iain T Benson, Professor of Law at the University of Notre Dame in Sydney, Australia, and, for the past seven years, extraordinary Professor of Law at the UFS.

Conflict between religion and modernity
According to Prof Benson, there have been attempts to exclude so-called old-fashioned ideas from modernity. He gave examples of political and moral objections to public money being spent on religious education by schools, and the prevalence of terminology that stigmatises alternative opinions that may be based on religion, such as “homophobia”. He also referred to an instance in which the accreditation of a Canadian Christian university was challenged because its covenant explicitly rejected certain practices, such as extramarital relationships and same-sex marriage – the objections centred on an institution with such views receiving public benefits.

The challenge of inclusion in a growing secular society
Last year, a South African court found that schools may not promote a single faith to the exclusion of others. “According to the constitution, we have the right to hold religious beliefs. However, there are limitations on religious practices. Each society must draw a line,” he said. In the South African case, he explained, “the court rejected a blanket exclusion of religion in schools. If religion is a right, how can it be voted out of existence?”

Prof Benson argued that the ideology of secularism, the separation of church and state, is making inroads into how we understand religion. If agnostic or atheist viewpoints are accepted in the public sphere, it should not mean that religious beliefs should be abolished. “A diversity of beliefs should be accommodated and every citizen, whether religious or not, may be a part of public life,” he said. He concluded by saying that we lived in a particularly difficult time for a religious believer in the public sphere.

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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