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08 June 2020 | Story Valentino Ndaba | Photo Sonia Small
Prof Francis Petersen is one of the leaders in a prestigious international panel for a COVID-19 webinar involving Uganda, the Netherlands, and Morocco.

 

Webinar details
Date: Wednesday, 10 June 2020
Time: 13:00 South African time (14:00 East African Standard Time)

Webinar link: https://www.ruforum.org/introductory-note-webinar-1
To participate register here

University leaders from Africa and beyond will take part in a Regional Universities Forum for Capacity Building in Agriculture (RUFORUM) webinar on Wednesday, 10 June, to look at universities’ responses to the COVID-19 pandemic. Prof Francis Petersen, Rector and Vice-Chancellor of the University of the Free State, will be one of four panellists who will be the main speakers of the day. He is the only panellist from South Africa. 

Prof Petersen will participate alongside university leaders such as Prof Arthur Mol, Rector Magnificus of Wageningen University and Research in the Netherlands, Mr Hicham el Habti, Secretary General at the Mohammed VI Polytechnique University (UM6P) in Morocco, as well as Prof Barnabas Nawangwe, Vice-Chancellor of the Makerere University in Uganda. 

Getting together with other university leaders from the continent and abroad, speakers will share insights from their respective countries in dealing with the pandemic. The webinar takes place on 10 June 2020 at 13:00 South African time (14:00 East African Standard Time)

RUFORUM is a consortium of 46 universities in Eastern, Central, Western, and Southern Africa mandated to oversee graduate training and networks of specialisation in the countries and universities where it works. 

What is the webinar about?
The RUFORUM webinar titled ‘Learning from a crisis: University leaders’ response to the COVID-19 Pandemic', aims to tackle issues such as the immediate needs of universities, including staff realignment, dealing with the digital divide in the student community, institutional finance for operations and innovations in a changing landscape, and international students in a crisis moment. 

This webinar provides a great opportunity to galvanise collective responses from university leaders on this pandemic. It brings together universities from within and outside Africa on lessons learnt in confronting the immediate challenges and how they are resetting for a long-term perspective in the ‘new normal’. Interactions during this webinar will hopefully lead to a consensus on strengthening collective response and how universities can leverage one another in terms of the best practices and resources.  

The impact of the Coronavirus on higher learning institutions 
Given the devastation caused by COVID-19 across the world since its outbreak in China in December 2019, the impact has been felt in all spheres of the economy and global operations. Universities have also seen significant interruptions, including the UFS. Recently, RUFORUM conducted a study on the readiness of African universities to respond to COVID-19 and other natural disasters. This was meant to determine the level of preparedness of our institutions in facing this global pandemic and how to move forward as a continent while preserving the quality of the higher education that we deliver.  

The webinar will build on those findings and project a way forward in this unchartered territory of diminished financial resources, personal and academic challenges for staff, students, and institutional systems, the urgent need for improved infrastructure to respond to the demand for blended learning as well as remote learning approaches, and the limited mobility of students, academic and other staff, among others. Addressing these issues resulted in collaborations such as those initiated by RUFORUM.




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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