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22 August 2024 | Story Mbali Moiketsi
Alexander Solomons
EMS honours student Alexander Solomons has been awarded the 2024/2025 Ernst Mach Grant to take part in an exchange programme with FH Salzburg University.

Alexander Solomons, an honours student in the Faculty of Economic and Management Sciences at the University of the Free State (UFS), has been awarded the prestigious Ernst Mach Grant for the 2024/2025 academic year. This competitive grant will enable Solomons to participate in an exchange programme at FH Salzburg University, one of Europe’s leading institutions for higher education and research, in Salzburg, Austria.

The Ernst Mach Grant, named after the renowned physicist and philosopher Ernst Mach, is funded by the Austrian Federal Ministry of Education, Science, and Research. It aims to foster international academic exchange and support students who demonstrate exceptional academic merit and a strong commitment to their field of study.

“Spending time abroad did not seem like something that I would be able to do so early in my life,” Solomons said. “Coming from Scottsville, Kraaifontein, in the Western Cape, I never thought that I would be able to take part in opportunities such as this one.”

“Alexander’s selection as an Ernst Mach Grant recipient is a testament to his hard work, dedication, and the high standards of academic programmes at the UFS,” said Lynette Jacobs, Acting Director in the Office for International Affairs at the UFS.

During his time at FH Salzburg University, Solomons will have the opportunity to immerse himself in a vibrant academic environment, engage with leading scholars in his field, and access cutting-edge resources and facilities. “I will have the opportunity to deepen my knowledge and engage in a different form of high-impact learning,” he said. “Professionally, international experience can be valuable in the advancement of my career. Being exposed to global practices as well as networking has the potential to enhance my career prospects and potentially open doors for me in the country I originate from and internationally.”

Jacobs added that this programme will not only enhance Solomons’ academic and professional development but also strengthen the international ties between the UFS and FH Salzburg University.

"I am thrilled to witness the incredible opportunities scholarship programmes offer to our students,” she said. “Scholarships like the Ernst Mach Grant not only provide financial support but also open doors to unparalleled academic and cultural experiences. I strongly encourage all UFS students to explore these opportunities and apply for scholarships. Studying abroad can be a life-changing experience, offering new perspectives, fostering personal growth, and building a global network.”

In addition to his academic pursuits, Solomons will serve as an ambassador for the UFS, sharing his experiences and insights with his peers and faculty members at FH Salzburg University. He intends to integrate the knowledge gained into research and projects he takes on in the future. He believes the exposure to diverse opinions can help him approach problems from a more global perspective, and help him think in a more adaptable and inclusive manner.

“His participation in this exchange programme will contribute to the ongoing efforts to promote international collaboration and cultural exchange within our academic community,” Jacobs said.

Students and staff interested in applying for scholarships are welcome to contact Mbali Moiketsi, Study Abroad Officer  in the Office for International Affairs on the top floor of the Theology Building.  Information about scholarships is shared regularly through channels such as newsletters, social media, and the UFS website.

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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