Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
15 September 2022 | Story NONSINDISO QWABE | Photo UFS Photo Gallery
UFS Qwaqwa Campus
The UFS Qwaqwa Campus.

Recent global happenings have challenged communities and humanity’s capability to solve immediate and major problems. Science has been one of the spaces in which the communities have looked for solutions regarding real threats to lives related to climate change, wars, as well as social and health pandemics. The Qwaqwa Campus will be showcasing Qwaqwa Campus research and scholarship at this year’s research conference, a two-day event which will be held in person, on 29-30 September 2022 at the Senate Hall on campus.

‘Scholarship, Innovation and Science: how can research be used as a tool for the betterment of society?’

Under this theme, the conference will be a space for intellectual debate and the processing of scholarship in innovation, said Prof Pearl Sithole, Vice-Principal: Academic and Research. “Some of the societal challenges have been urgent and pressing, yet some are slow dilemmas shattering the hope of generations for a better future. This conference will present the products of ‘disciplinary and scholarly crafts’, but it also seeks to explore whether science does (or should) have a strategic direction, and perhaps this is what the concept of innovation should entail. It will ponder on whether in the age-old binary between exploratory research and praxis there is a defeating taming of the entrepreneurial edge for the expanse of science in Africa,” she said.

Prof Sithole said the campus would also be launching its research strategy for 2022 to 2026.

Guest speakers include:

• Prof Percy Hlangothi is an Associate Professor of Physical and Polymer Chemistry at the Nelson Mandela University. He is also the inaugural Director of the Centre for Rubber Science and Technology, a research entity in the Faculty of Science at the same institution.

• Mr Lukhona Mnguni is a governance, politics, and development specialist and prolific political analyst specialising in Africa and international relations, as well as a PhD intern at the University of KwaZulu-Natal. He currently serves as the Head of Policy and Research at the Rivonia Circle. His work includes a current affairs analytical show on eNCA dubbed On the Spot with Lukhona Mnguni.

• Prof Dipane Hlalele is a Professor of Education and a C2 NRF-rated researcher. He is a highly rated scholar in inclusive education, critical pedagogy, and educational psychology at the University of KwaZulu-Natal. Prior to joining UKZN as an associate professor in 2017, he was an assistant dean and senior lecturer at the UFS, a college of education lecturer, and a high school deputy principal and teacher. 

To RSVP please click here on or before 19 September 2022.

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