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05 October 2018
The public participation process regarding the review of the position of the MT Steyn statue in front of the Main Building on the Bloemfontein Campus is concluded and the reflective column in front of the statue has been removed. The reflective column was placed in front of the statue to elevate engagement and solicit comments from the university community regarding the position of the statue.
 
The public participation process started on 9 July and was concluded on 9 September 2018. During this process, the university community had several opportunities to submit oral and written submissions regarding the position of the statue. The oral and written submissions received during the public participation process were analysed by an independent analyst and a report was provided to the special task team. The broad themes that emerged from the public participation process included opposition to the current location; opposition to the removal; removal to alternative positions off campus; and the addition of other statues next to the statue.
 
The public participation process was by no means a vote on the matter; the aim was to obtain as many opinions and comments about the position of the statue as possible, as it forms part of a broader endeavour to review the position of the statue.   
 
The process going forward is as follows:
 
(i)            The report on the public participation process will be incorporated into the draft Heritage Impact Assessment (HIA), and the heritage consultant will submit the final report to the special task team;
(ii)           The special task team will engage with the final HIA and make recommendations to the Rector and Vice-Chancellor;
(iii)          The Rector and Vice-Chancellor will discuss the HIA assessment and the recommendations of the special task team with the university’s executive management and will subsequently make recommendations to the UFS Council for consideration during its meeting in November 2018. 


Released by:
Lacea Loader (Director: Communication and Marketing)
Telephone: +27 51 401 2584 | +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27 51 444 6393

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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