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26 February 2019 | Story Eugene Seegers | Photo Eugene Seegers
Prof Francis Petersen, Rector and Vice-Chancellor, Prof Daniella Coetzee, South Campus Principal, Tshegofatso Setilo, Director Access, Prof Prakash Naidoo, Vice-Rector Operations
Prof Francis Petersen, Prof Daniella Coetzee (Principal: South Campus), Tshegofatso Setilo (Head: Access Programmes), and Prof Prakash Naidoo (Vice-Rector: Operations) on the South Campus for the welcoming of first-years.


“Welcome to the South Campus of the University of the Free State!” Addressing a packed Madiba Arena, Prof Francis Petersen, Rector and Vice-Chancellor of the UFS, said he was happy to see not only first-year students, but also parents and guardians, student leadership, and support staff from both the Bloemfontein and South Campuses.

 “I would like to congratulate each of our first-year students for making the decision to come to Kovsies to further your studies here. But I would also like to thank you for making this choice,” he continued.

Prof Petersen further emphasised that the students’ experience and success as individuals are important to the UFS as an institution; therefore, academic and support staff are on hand to guide them through their journey to becoming well-rounded individuals. “We will surely take care of you,” said Prof Petersen. He also reassured parents and guardians that their loved ones would be well looked after.

The Rector also focused attention on the role of student-leadership structures, such as the newly-formed Institutional Student Representative Council (ISRC) and South Campus SRC, members of which were present in the audience. He thanked them for playing a key role in the student constituency, highlighting their support and guidance to help first-years cultivate a sense of belonging at the UFS.

Turning back to first-year students, Prof Petersen stated that they have the unique opportunity to study on a campus specifically focused on developing their full potential, a campus where they can realise their dreams. “Your arrival on the campus marks a new chapter in your life. This chapter is slightly different, as you are the author thereof. The previous chapters in your life were largely written by others—your parents, guardians, families, teachers, and others. You will now be the main author in the next chapter of your unique story.”

“At Kovsies, we believe in developing students in their totality as human beings, not just the academic side. May your time with us equip you to make a success of your life after university!”

Prof Petersen’s Message to First-year Students
  1. Take responsibility for your academic programme.
    • Keep your focus. Study and study hard. You will reap the rewards and see the advantages of making success in your studies a top priority.
    • Make sure that you have enough time for your studies; balance your social life and your time set aside to study.
  2. Realise and remember that you are not alone.
    • If you find things difficult, seek help.
    • Our Department of Student Counselling and Development has trained staff and tailor-made programmes that can assist you.
    • Look after your mental health—and look after each other’s mental health.
  3. Make the most of your time at Kovsies.
    • Join one or more of the student organisations; why not try something new?
  4. Embrace difference and diversity.
    • Get to know students who are different from you.
    • You will lose valuable opportunities to grow if you only associate with your own all the time. It is important to get to know students who are different from you. It could be someone from a different part of the country, or from another country, a different ethnicity, a different religion, someone who has different views from yours, or who has different interests and perspectives.

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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