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13 March 2020 | Story Amanda Tongha and Andre Damons | Photo Johan Roux
 UFS postgraduate welcoming
Attending the Postgraduate Welcoming were, from the left: Itumeleng Mutla, second-year master’s student; Prof Corli Witthuhn, Vice-Rector: Research, Innovation and Internationalisation; Prof Witness Mudzi, Director of the Postgraduate School; Hesma van Tonder, Chief Officer: Research Librarian; and John van Niekerk, a master’s student.

The University of the Free State prides itself on being an institution committed to excellence in postgraduate education. In 2019, the UFS boasted more than 6 900 postgraduate students enrolled for postgraduate diplomas, honours, master’s and doctoral qualifications. Of these, 77% previously enrolled at the UFS, while 23% started at the institution for the first time.

Targeting this group of students who make up 17% of the total number of degree-seeking students, the UFS Postgraduate School formally welcomed new senior students to the university on Friday 6 March. 

Postgraduate success
“It is the best time to be a senior student, and I hope it is a wonderful experience,” said Prof Corli Witthuhn, Vice-Rector: Research, Innovation and Internationalisation in her welcoming address to the more than 150 postgraduate students gathered in the Reitz Hall of the Centenary Complex. 

Giving reasons as to why Kovsie students should consider postgraduate studies, Prof Witthuhn said there are many opportunities associated with making the jump from undergraduate to postgraduate student.  

“All the data shows that postgraduate studies increase employability. It creates the opportunity to deeper engage with the field that you are interested in.”
 
The postgraduate journey 
D
r Musawenkosi Saurombe, Senior Lecturer in the Department of Industrial Psychology who became the youngest PhD holder on the African continent at age 23, was also on hand to offer advice. 

“Are you willing to see the task to completion? How badly do you want it?” she challenged postgraduate students, talking about her journey from 16-year old first-year student to 23-year-old doctoral degree holder. 

Itumeleng Mutla, who is in the second year of her master’s degree in Administration, said she found the speech by Dr Saurombe inspiring and encouraging. “I felt like a groupie and took pictures with her afterwards. We felt inspired by her story and she encouraged me in my own studies. I think I am also going to push to finish my studies earlier,” she said.

John van Niekerk, a master’s student in Education and Psychology, said Saurombe’s talk was brilliant and he would like her to give a talk to learners at Kimberley Boys High, where he is a teacher. 

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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