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02 September 2020 | Story Lacea Loader | Photo Charl Devenish
Deputy Minister visit
From the left are: Deputy Minister of Higher Education, Science and Technology, Buti Manamela; Prof Prakash Naidoo, Vice-Rector: Operations at the UFS; and Dr Ramneek Ahluwalia, Chief Executive Officer of Higher Health.

“The work that the University of the Free State (UFS) is doing to ensure that students get the necessary support is quite impressive. The university is saving the academic year to save lives.” These were the words of the Deputy Minister of Higher Education, Science and Technology, Buti Manamela, during a visit to the university’s Bloemfontein Campus on 31 August 2020.

The visit was part of the Deputy Minister’s visit to higher education institutions in Bloemfontein to assess the academic state of readiness and to monitor the safety protocols for the phased re-opening of campuses during Level 2 of the national lockdown.

The delegation, which also consisted of representatives from Higher Health led by the Chief Executive Officer Dr Ramneek Ahluwalia, attended a briefing session in the Council Chambers before visiting various venues on campus. In his opening and welcoming remarks, Prof Prakash Naidoo, Vice-Rector: Operations, said that the safety, health, and well-being of staff and students remain the university’s priority. “Extensive planning has gone into making sure that the university complies with the national COVID-19 protocols and regulations and that our campuses are safe and ready for the return of students. Sufficient hygiene measures are in place, as well as adaptions to ensure physical distancing. The wearing of masks, physical distancing, and hand sanitising remain compulsory on all the campuses,” said Prof Naidoo.

“A Special Executive Group (SEG) was already established by the Rector and Vice-Chancellor, Prof Francis Petersen, at the beginning of March 2020. The SEG meets weekly to discuss and decide on the university’s response to COVID-19 as this pandemic develops over time. Consisting of eight task teams, the SEG is the decision-making entity that responds rapidly and in a coordinated manner to combat the threats to business continuity. One of the task teams is specifically looking at the wellness of our students and staff to make sure that this important aspect is taken care of,” said Prof Naidoo.

During a presentation of the university’s Multimodal Teaching and Learning Plan for the completion of the 2020 academic year, Prof Francois Strydom, Senior Director: Centre for Teaching and Learning, said that the university has an evidence-based approach towards remote multimodal teaching, learning, and assessment. “For instance, our vulnerable students were identified early in the lockdown, and 16 strategies were put in place to ensure that no student is left behind. 99,95% of our students were active on Blackboard. We are developing plans for the 0,05% of students who were not able to participate in learning, so that they can continue their learning journey with the UFS,” said Prof Strydom.

In his closing remarks, Deputy Minister Manamela commended the university management on the initiatives to save the academic year. He also indicated his appreciation for the informative session and encouraged the university to keep on motivating students and staff to be attentive to their behaviour and to remain careful about their health and well-being.

The programme was concluded with a visit to a number of venues on campus, including the examination venues, the Health and Wellness Clinic, the Pathogen Research Laboratory of the Division of Virology and a student housing unit.

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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