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UFS hosts International Conference on the Right to Development

01 October 2019 | Story Ngang Carol | Photo Stephen Collett

International conference delegates — International delegates attending the International Conference on the Right to Development hosted on the Bloemfontein Campus.

The International Conference on the Right to Development was held in Bloemfontein for the first time from 25 to 27 September 2019, hosted by the Free State Centre for Human Rights at the University of the Free State. This is the third in the international conference series launched in 2017 with the aim of advancing the right to development both in Africa and internationally. This year’s conference follows the previous two that were held at the Centre for Human Rights, University of Pretoria, in September 2017 and August 2018.

Based on the theme, ‘The right to development and natural resource ownership’, the 3rd International Conference on the Right to Development offered the forum and opportunity to participants from a diversity of backgrounds and disciplines to interact and share knowledge on their research outputs, which extensively explored questions on how natural resource ownership could contribute to the realisation of the right to development. The keynote address was delivered by Prof John C Mubangizi, Dean of the Faculty of Law at the University of the Free State.

The three-day conference registered a total of 35 participants and 27 presentations out of the 33 that were scheduled. Participants came from different countries, including South Africa, Botswana, Zimbabwe, the Democratic Republic of the Congo, Cameroon, Nigeria, Ghana, Kenya, Uganda, Ethiopia, and the United Kingdom. Some of those who were unable to attend had the opportunity to present their papers through Skype. The presentations stimulated exciting and robust debates.

The International Conference Series on the Right to Development is jointly organised and co-sponsored by the Centre for Human Rights, University of Pretoria; the Thabo Mbeki African Leadership Institute, University of South Africa; and the Free State Centre for Human Rights, University of the Free Sate. In its three years of existence, it has progressively established a steady track record of publications, including journal articles in special editions of selected journals and collections of chapters in edited volumes.

The next (fourth) conference is intended to be much bigger and is scheduled to take place in Kigali, Rwanda, in 2021.

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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