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28 May 2018

The National Research Foundation (NRF) ratings are considered the benchmark for research excellence. This year the University of the Free State (UFS) has 17 newly NRF-rated researchers. This brings the total number of NRF-rated researchers at UFS to 160.
 
NRF ratings are allocated based on a researcher’s recent research outputs and impact as perceived by national and international peer reviewers. The rating system encourages researchers to publish high-quality research papers in journals of high impact and to publish books through reputed academic publishers. The NRF rating system is a valuable tool for benchmarking the quality of our researchers against the best in the world.

Research at the heart of the UFS
Prof Francis Petersen, Rector and Vice-Chancellor, has indicated that the UFS provides significant support to researchers to apply for new NRF ratings or to re-apply for rating. These initiatives include the mock NRF rating panels managed by the Prestige Scholars Programme (PSP), evaluation of individual research outputs and recommendations on timely applying for rating, and improvements on rating applications by a panel consisting of internal and external members. These initiatives are bearing fruit by increasing the number of rated researchers who will transform the research profile and increase the diversity of UFS researchers.
Cultivating the best researchers.

According to Eleanor van der Westhuizen, from Research Development: “The rating of individuals is based primarily on the quality and impact of their research outputs over the past eight years, taking into consideration the evaluation made by local and international peers. It identifies researchers who count among the leaders in their fields of expertise and gives recognition to those who have a sustained production of high-quality research outputs. Several South African universities use the outcomes of the NRF evaluation and rating process to position themselves as research-intensive institutions, while others such as the UFS provide incentives for their staff members to acquire and maintain a rating.”

Cream of the crop
The UFS has also upped the ante with regard to its total number of NRF-rated researchers during the latest rating and evaluation, with an increase from 149 to 160 rated researchers in 2018.
 
Prof Heidi Hudson, Dean of Humanities, received an NRF B-rating, which brings the total of B-rated researchers to six. Other B-rated researchers incude Prof Johann Meyer (Mathematics), Prof Fanie Snyman and Prof Francois Tolmie (Theology), Prof Felicity Burt (Medical Microbiology) and Prof Andre Roodt (Chemistry). A total number of 10 new C-ratings and six new Y-ratings were achieved during the 2018 evaluation process.

“NRF-rating is indicative of the university’s drive to enhance its research profile nationally and internationally. Congratulations to all the scientists and scholars who received a rating in 2017. I am thankful to our academics for their commitment to the rating process,” said Prof Corli Witthuhn, Vice-Rector: Research at the UFS.

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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