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10 December 2019 | Story Xolisa Mnukwa | Photo Supplied
Student Awards
The UFS rewarded student leaders for their hard work through the Division of Student Affairs (DSA) Student Leadership Awards (SALA).


The University of the Free State (UFS) Division of Student Affairs has recognised and awarded a number of student leaders in the areas of student life, arts and governance through the 2019 Student Affairs Leadership and Achievement Awards (SALA). 

Through SALA, the DSA aims to recognise and promote outstanding student leadership, thereby alleviating the threat of financial exclusion, which has been identified as a major challenge that students are currently facing. “With these awards, the department is making a small contribution towards mitigating such a challenge, especially for those students who are always at the forefront of student life, serving others while they themselves face similar challenges and contradictions,” explained Dean of Student Affairs, Pura Mgolombane.

The SALA committee convenes to select the student leaders to be awarded according to a definite rubric, which also determines the amount to be allocated. This year, the basic amount allocated was R6 000, whereas the highest amount was R25 000. The financial aspect of SALA is meant to assist students to pay for their tuition fees, with the money being paid directly into the student accounts. 

The rewards honour and incentivise students who have held leadership offices and impacted either the UFS Bloemfontein, South or Qwaqwa campuses and/or the student community of the university in a generally positive manner.

According to Mgolombane, the founder of the UFS Next Chapter organisation, Tshepang Mahlatsi, was one of the student leaders who was recognised as a leader deserving of an award amounting to R25 000 for his participation as a leader in various aspects of student life, from leading within UFS residences, to the Faculty of Law, and as an avid mental-health advocate. 

A total of 31 student leaders from the Bloemfontein Campus, 11 from the South Campus, 18 from the Qwaqwa Campus, and nine other students from all three campuses who outshone their peers, were SALA recipients in 2019. 

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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