Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
30 November 2021 | Story Leonie Bolleurs | Photo Supplied
Prof Johan Meyer, Senior Professor in the Department of Mathematics and Applied Mathematics, says he is looking forward to learning from others in the field during this collaboration.

What do trees, black holes, earthquakes, and time structures have in common? 

The answer to this question is that these, in one way or the other, form the focus of some of the abstracts delivered during the Annual Congress of the South African Mathematical Society. The society has as its main objective the advancement of mathematics in South Africa. 

The Department of Mathematics and Applied Mathematics at the University of the Free State (UFS), in conjunction with the South African Mathematical Society (SAMS 2021), is hosting the 64th Annual Congress of the society this week (29 November to 1 December 2021).

Prof Johan Meyer, Senior Professor in the department, says the congress, which is being conducted online, is focusing on all aspects of mathematics research, including history and teaching.

Learning from others in the field

The congress, which aims to share the latest research results in mathematics, will be attended by staff and students from universities across South Africa as well as abroad. “Anyone from the public is, of course, welcome to attend or even share their results if they are also involved in mathematics research,” adds Prof Meyer. 

He says that he is looking forward to learning from others in the field during this collaboration. 

The congress will include discussions on more than 120 abstracts, covering category theory, algebra, topology, logic; functional analysis and operator theory; finite groups and combinatorial structures; graph theory and combinatorics; lie symmetries and nonlinear differential equations; and applied and numerical mathematics.

Array of interesting topics presented

“It is important in many areas of science and engineering to predict and to simulate rare, random events, the occurrence of which may have negative or even catastrophic consequences. Examples include internet server overflows, mechanical breakdowns, floods, and financial crashes. Rare events can also have a positive effect, triggering for example chemical reactions or driving genetic evolution via random mutations.” Prof Hugo Touchette from Stellenbosch University will be shedding some light on this interesting topic in his presentation on Predicting and simulating rare events.

Prof Jeandrew Brink, Associate Professor in the Department of Mathematics and Applied Mathematics at the UFS, is presenting a plenary session on the topic Determining the geometry of strong field space-times in spite of tacitly assuming the answer during every measurement. In South Africa, state-of-the art pulsar timing data from the MeerKAT telescope will make a considerable contribution to conducting GR orbital tests. Prof Brink comments on how pulsar timing tests differ from tests using gravitational wave detectors, as well as what we can learn from the framework already employed to perform pulsar timing measurements.

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


We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept