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05 June 2018 Photo Supplied
Digging up truth South Africa was way different to what you thought
Archaeological excavations in the Wonderwerk Cave, north of Kuruman in the Northern Cape.

Research fellow Dr Lloyd Rossouw from the Department of Plant Sciences at the University of the Free State (UFS) recently published an article in the Nature Ecology and Evolution journal with Dr Michaela Ecker from the University of Toronto as lead author, and Dr James Brink, research fellow at the UFS Centre for Environmental Management. The findings described in “The palaeoecological context of the Oldowan-Acheulean in southern Africa” provides the first extensive paleoenvironmental sequence for the interior of southern Africa by applying a combination of methods for environmental reconstruction at Wonderwerk Cave, which have yielded multiple evidence of early human occupation dating back almost two million years ago.

Where water once was
The Wonderwerk Cave is found north of the Kuruman hills (situated in Northern Cape) a 140m long tube with a low ceiling. The surroundings are harsh. Semi-arid conditions allow for the survival of only hardy bushes, trees, and grasses. But during the Early Pleistocene, stepping out of the Wonderwerk Cave you would have been greeted by a completely different site, the researchers found. Using carbon and oxygen stable isotope analysis on the teeth of herbivores (Dr Ecker), fossil faunal abundance (Dr Brink), as well as the analysis of microscopic plant silica remains (phytoliths) excavated from fossil soils inside the cave (Dr Rossouw), the results show that ancient environments in the central interior of southern Africa were significantly wetter and housed a plant community unlike any other in the modern African savanna. 

What difference does it make?
While East African research shows increasing aridity and the spread of summer-rainfall grasslands more than a million years ago, the results from this study indicate an interesting twist. During the same period, shifts in rainfall seasonality allowed for alternating summer and winter-rainfall grass occurrences coupled with prolonged wetlands, that remained major components of Early Pleistocene (more or less the period between one and two million years ago) environments in the central interior of southern Africa. That means our human ancestors were also living and evolving in environments other than the generally accepted open, arid grassland model.

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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