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21 December 2020 | Story Eugene Seegers | Photo Sonia Small
Prof Fanie Snyman, retired Dean of the Faculty of Theology and Religion, is the first South African to publish a volume in the respected Tyndale Old Testament Commentaries series, which deals with the Bible books of Nahum, Habakkuk, and Zephaniah.

Against the backdrop of the Faculty of Theology and Religion’s 40th anniversary, Prof Fanie Snyman, retired Dean and research associate, has recently published a commentary in the Tyndale Old Testament Commentaries series based in Cambridge, England, on the prophetic books Nahum, Habakkuk, and Zephaniah of the Old Testament. What makes his book special is that Prof Snyman is the first and for the foreseeable future the only South African Old Testament scholar to be commissioned to publish in this distinguished commentary series. This commentary series is widely read and consulted in the English-speaking scholarly communities of Africa, Australia, Great Britain, New Zealand, the USA, and many European countries.

In a virtual ‘sit-down’ with Prof Fanie, he explained how a research volume of this type is usually compiled: It starts with a verse-by-verse analysis of the Bible books, looking at the literary aspects of how the passage was written as well as considering its historical, social, and cultural background. This is done to obtain a better overall understanding of the text. Secondly, a volume of commentary is not merely regurgitating knowledge that has already been generated. Prof Fanie says that “it must deliver new, fresh perspectives on the current state of research on these books. What can I contribute to the understanding of these writings?” To accomplish this, he had to pore over stacks of research on these prophetic works to be as current as possible with modern research.

First contributor from Africa

Dr David Firth, the series editor, says: “Over the nearly sixty-year history of the Tyndale Old Testament Commentaries, we have not previously had any contributors from Africa. That has now been put right with the release of Prof SD Snyman’s new volume on Nahum, Habakkuk, and Zephaniah. Prof Snyman has brought together his expertise on the prophetic literature of the Old Testament and theological awareness to present a fresh work on these often-neglected books. Through his careful attention to how these books functioned in their ancient setting and mastery of the secondary literature, he is also able to point to the enduring importance of each of these books for contemporary readers. As such, he has admirably fulfilled the brief for the series and produced a volume that will serve a new generation who come to these books.”

Prof Fanie affirms that the burning issues raised in each of these books regarding situations in ancient Israel often mimic comparable issues in our modern society. For example, he underscores how Nahum brings the misuse of political power to the fore, a current and topical point of contention. Prof Snyman says: “My aim was to create a vertical theological perspective of that historical situation against the backdrop of contemporary issues. I believe that these texts have a relevance for us and upon us today.”

Other international works

This book is the third one published internationally by Prof Snyman. In 2012, he published a book on the prophetic literature of the Old Testament together with a Dutch colleague in the USA. In 2015, he published a commentary on the book of Malachi in Europe. This book was awarded the UFS Book Prize for Distinguished Scholarship in 2017. 

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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