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01 July 2022 | Story Marcus Maphile | Photo Supplied
The University of the Free State Library and Information Services (UFSLIS) hosted stakeholders from SABC Lesedi FM, the Free State Department of Sport, Arts, and Culture, the Pan South African Language Board (PanSALB), and delegates from the National Library for the launch of the first-ever African Languages University Press in South Africa and Africa.  The launch, which took place on 24 May, deliberately coincided with the Africa Month commemorations – as the UFS’ answer to the United Nations General Assembly (Resolution A/RES/74/135) proclamation of the period between 2022 and 2032 as the International Decade of Indigenous Languages.  

This proclamation aims to draw global attention to the critical situation of many indigenous languages, and to mobilise stakeholders and resources for their preservation, revitalisation, and promotion. The University of the Free State Department of African Languages aims to be a publisher of high-quality original African language monographs and research in order to promote access, preservation, and use of marginalised African languages.  

In his opening remarks, Marcus Maphile, Assistant Director: Library Services, said, “As a broad academic publisher, the African Languages Press will be working across a number of markets, all presenting challenges and opportunities for established and engaged university presses. One of the opportunities will be to challenge the mainstream book publishers to re-enter the indigenous language publishing market.” He further said that this was done to make writing and reading in African indigenous languages fashionable, for other nations to envy our rich multilingual cultural heritage. 

The guest speaker for the launch was the UFS honorary Doctor of Letters (DLitt) recipient, Dr Jerry Mofokeng wa Makhetha, who applauded the University of the Free State for taking such a bold step towards enriching and developing African indigenous languages. 

The launch offered the UFS the opportunity to reach out and engage the international community on potential partnerships and collaborations towards developing African languages. The Library Director, Ms Jeanette Molopyane, provided insight into the challenges faced by libraries due to the shortage of books in African languages, while positioning the University of the Free State Library as a trendsetter and a leader in the development of best practices in the field of libraries.  

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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