The competitive advantage of velvet beans as an economic agricultural commodity. In the past 40 years, although food insecurity, poverty and environmental degradation persist, worldwide farmers have made considerable progress in increasing per capita food production whilst better understanding natural-resource management. Literature indicates that — in the decades to come — food demand will both grow and change for three reasons, namely increased numbers of people, increased income (people will have more purchasing power), and increased urbanisation (people will be more likely to adopt new diets containing animal protein and cereal). The world population is expected to increase to 8,9 billion by 2050, with 84% in the developing countries. Food insecurity and malnutrition are expected to persist despite progress on average per capita consumption of food. As a complex system, and despite challenges, agriculture must produce simultaneously unprecedented abundance of food and unparalleled social concerns. As a business, agriculture requires high capital investments in land, facilities and production inputs; most often producing commodities of generally low unit value with thin profit margins, thereby forcing producers to strive for efficiency in all aspects of production. Therefore, it is of utmost importance that farmers should understand sustainable agriculture; where a more sustainable food-production system seeks to make the best use of nature’s goods and services whilst not being harmful to the environment. Sustainable agriculture should maximise the productivity of the land; should focus on locally adapted resource-conserving technologies which assist whole system redesign and large-scale adoption; and should aim to minimise the use of harmful non-renewable and fossil-fuel derived inputs. Fertilisers have not replaced the function of organic matter and other management practices; but soil erosion and toxic waste rather did increase disproportionately along with increased agricultural production. This has led to a progressive decline in crop and land productivity as a result of soil degradation, water contamination, increasing problems of weed infestation, pests and diseases. Often the apparent absence of sustainable productive agricultural systems within the scope of commercial farmers is not because of the lack in technology or low yield potential of traditional varieties, but rather on account of the limited knowledge or lack of awareness on the part of farmers about sustainable production practices which function in harmony with their farming environment. As one of the keys to success the velvet bean — which can grow almost everywhere — is an example of the introduction of a simple regenerative component into a farming system, as well as boosting the capacity of a farmer for local adaptation of the technology. Integrating the natural processes of nutrient cycling, nitrogen fixation and introducing natural enemies of pests into food production processes can contribute to minimising environmental damage and/or health of the farmer and the consumer. Using the knowledge and skills of farmers helps to improve their self-reliance and to solve a common management problem, such as social- and human-capital management. The velvet bean is seen as an answer to the agricultural problem of low nutrient supply to the staple crop of maize. The bean creates ground cover, regenerates, fertilises the soil, controls weeds and adds organic matter and nutrients. In arid South Africa the crop is one of the strongest defences of the farmer against the harmful effects of El Niño — with the bean protecting the soil, holding water and fertilising the land with its leaves. With the velvet bean farmers can grow their own organic and inexpensive fertilisers. Commercial fertilisers are becoming more and more expensive and their benefit is decreasing because of a degrading soil resource base. Furthermore, the rise in production costs makes total reliance on inorganic fertilisers more uneconomical for most growers in the agricultural sector; making it imperative for researchers to come up with options which increase the efficient use of fertiliser, and also to identify other nutrient sources — such as legumes — that are not capital intensive. The velvet-bean technique is known to researchers and farmers worldwide for a considerable amount of time, but not in our country. As the technique becomes better known to South African farmers, it can be considered in a broader sense as a modern way to add nitrogen to the soil; benefitting, amongst others, the subsequent crop. The velvet-bean approach has a window of opportunity which can lead to higher yields in crop production, decline in labour costs, crop diversification, as well as agro-processing — all resulting in improved food security for South Africa. Adopting the velvet bean into a production system can benefit a farmer, by achieving maize yields of 3 t/ha–4 t/ha (similar to yields normally obtained with recommended levels of fertilisation at 130 kg N/ha) without applied nitrogen fertiliser or input for weeding. Velvet beans, as an intercrop, can provide more than 100 kg N/ha to the following crop. However, literature shows a declining trend over time for all systems, which suggests that additional external inputs (probably P and K fertiliser) are required to achieve full sustainability. The adoption of the velvet bean in the South African maize industry would result in import savings of about 158 million tons of urea or about R591 billion/year. Information presented in this mini-dissertation is considered to be the current state of knowledge on establishing, managing, and utilising the velvet bean as a legume in South Africa’s commodity market; with the belief that it will expand the use of the bean, and will enhance the benefits from its use. / MBA, North-West University, Potchefstroom Campus, 2015

The competitive advantage of velvet beans as an economic agricultural commodity. In the past 40 years, although food insecurity, poverty and environmental degradation persist, worldwide farmers have made considerable progress in increasing per capita food production whilst better understanding natural-resource management. Literature indicates that — in the decades to come — food demand will both grow and change for three reasons, namely increased numbers of people, increased income (people will have more purchasing power), and increased urbanisation (people will be more likely to adopt new diets containing animal protein and cereal). The world population is expected to increase to 8,9 billion by 2050, with 84% in the developing countries. Food insecurity and malnutrition are expected to persist despite progress on average per capita consumption of food. As a complex system, and despite challenges, agriculture must produce simultaneously unprecedented abundance of food and unparalleled social concerns. As a business, agriculture requires high capital investments in land, facilities and production inputs; most often producing commodities of generally low unit value with thin profit margins, thereby forcing producers to strive for efficiency in all aspects of production. Therefore, it is of utmost importance that farmers should understand sustainable agriculture; where a more sustainable food-production system seeks to make the best use of nature’s goods and services whilst not being harmful to the environment. Sustainable agriculture should maximise the productivity of the land; should focus on locally adapted resource-conserving technologies which assist whole system redesign and large-scale adoption; and should aim to minimise the use of harmful non-renewable and fossil-fuel derived inputs. Fertilisers have not replaced the function of organic matter and other management practices; but soil erosion and toxic waste rather did increase disproportionately along with increased agricultural production. This has led to a progressive decline in crop and land productivity as a result of soil degradation, water contamination, increasing problems of weed infestation, pests and diseases. Often the apparent absence of sustainable productive agricultural systems within the scope of commercial farmers is not because of the lack in technology or low yield potential of traditional varieties, but rather on account of the limited knowledge or lack of awareness on the part of farmers about sustainable production practices which function in harmony with their farming environment. As one of the keys to success the velvet bean — which can grow almost everywhere — is an example of the introduction of a simple regenerative component into a farming system, as well as boosting the capacity of a farmer for local adaptation of the technology. Integrating the natural processes of nutrient cycling, nitrogen fixation and introducing natural enemies of pests into food production processes can contribute to minimising environmental damage and/or health of the farmer and the consumer. Using the knowledge and skills of farmers helps to improve their self-reliance and to solve a common management problem, such as social- and human-capital management. The velvet bean is seen as an answer to the agricultural problem of low nutrient supply to the staple crop of maize. The bean creates ground cover, regenerates, fertilises the soil, controls weeds and adds organic matter and nutrients. In arid South Africa the crop is one of the strongest defences of the farmer against the harmful effects of El Niño — with the bean protecting the soil, holding water and fertilising the land with its leaves. With the velvet bean farmers can grow their own organic and inexpensive fertilisers. Commercial fertilisers are becoming more and more expensive and their benefit is decreasing because of a degrading soil resource base. Furthermore, the rise in production costs makes total reliance on inorganic fertilisers more uneconomical for most growers in the agricultural sector; making it imperative for researchers to come up with options which increase the efficient use of fertiliser, and also to identify other nutrient sources — such as legumes — that are not capital intensive. The velvet-bean technique is known to researchers and farmers worldwide for a considerable amount of time, but not in our country. As the technique becomes better known to South African farmers, it can be considered in a broader sense as a modern way to add nitrogen to the soil; benefitting, amongst others, the subsequent crop. The velvet-bean approach has a window of opportunity which can lead to higher yields in crop production, decline in labour costs, crop diversification, as well as agro-processing — all resulting in improved food security for South Africa. Adopting the velvet bean into a production system can benefit a farmer, by achieving maize yields of 3 t/ha–4 t/ha (similar to yields normally obtained with recommended levels of fertilisation at 130 kg N/ha) without applied nitrogen fertiliser or input for weeding. Velvet beans, as an intercrop, can provide more than 100 kg N/ha to the following crop. However, literature shows a declining trend over time for all systems, which suggests that additional external inputs (probably P and K fertiliser) are required to achieve full sustainability. The adoption of the velvet bean in the South African maize industry would result in import savings of about 158 million tons of urea or about R591 billion/year. Information presented in this mini-dissertation is considered to be the current state of knowledge on establishing, managing, and utilising the velvet bean as a legume in South Africa’s commodity market; with the belief that it will expand the use of the bean, and will enhance the benefits from its use. / MBA, North-West University, Potchefstroom Campus, 2015

This thesis examines the effects of price and exchange rate volatilities on the volume of trade corn, soybean, wheat and rice. Empirical results indicate that price volatility and exchange rate volatilities do not have effects on Canada’s export of wheat and soybean, and Canada’s import of corn and rice. This thesis also examined the effects of exchange rate and commodity price volatilities on developed countries’ trade and developing countries’ trade separately. Results show that trade between developing countries is more sensitive to exchange rate and commodity price volatilities than trade between developed countries. / Canadian Agricultural Trade Policy and Competitiveness Research Network (CATPRN)

This thesis examines the effects of price and exchange rate volatilities on the volume of trade corn, soybean, wheat and rice. Empirical results indicate that price volatility and exchange rate volatilities do not have effects on Canada’s export of wheat and soybean, and Canada’s import of corn and rice. This thesis also examined the effects of exchange rate and commodity price volatilities on developed countries’ trade and developing countries’ trade separately. Results show that trade between developing countries is more sensitive to exchange rate and commodity price volatilities than trade between developed countries. / Canadian Agricultural Trade Policy and Competitiveness Research Network (CATPRN)

This thesis examines the effects of price and exchange rate volatilities on the volume of trade corn, soybean, wheat and rice. Empirical results indicate that price volatility and exchange rate volatilities do not have effects on Canada’s export of wheat and soybean, and Canada’s import of corn and rice. This thesis also examined the effects of exchange rate and commodity price volatilities on developed countries’ trade and developing countries’ trade separately. Results show that trade between developing countries is more sensitive to exchange rate and commodity price volatilities than trade between developed countries. / Canadian Agricultural Trade Policy and Competitiveness Research Network (CATPRN)

In many Western countries and elsewhere, agriculture commodity exchanges have been in existence for centuries. However, Africa did not follow the same route for various reasons. The main reason is that commercial production of basic agricultural commodities considerably lagged that of its counter parts in the Western world. By the time commercial production became a significant factor, the philosophy of government controlled marketing was already entrenched in many of these countries. It was only in the mid-1990’s after the demise of communism and the abolishment of the South African controlled marketing system (not related), that farmers and stakeholders suddenly asked, how should we now go about to market our products, what are the alternatives? Western models were revisited, with commodity exchanges as a possible solution revisited. An urgent need aroused regarding the requirements for the establishment and management of a successful Warehouse Receipt System (WRS). Malawi, is one country that that has a history of government controlled marketing followed by (partial) deregulation in 2006. Despite this, the Agricultural Commodity Exchange for Africa (ACE) was established in 2005, survived and continued to grow. It has now reached a point where it is on the verge of commercially implementing and rolling out a WRS. This has obviously brought forward a number of questions. The most prominent of these are: how do you define a WRS, what are the components of a successful WRS, what are the similarities or differences between the requirements of a successful commodity exchange and that of a WRS? The objective of this study is to determine the importance of a WRS in the success of an agricultural commodity exchange. ACE has advocated for a WRS as an integral part of agricultural trade and financing since its incorporation in 2006. However, Malawi does not have a regulatory framework for warehouse receipts (WRs) so the system has to be built on contractual relationships between grain depositors, storage operators, financial institutions and ACE. Given that various commodity exchanges have been in operation throughout Africa for more than a decade with various degrees of success, sufficient literature is available on the subject matter. Much effort was made to obtain all relevant documentation, trusting that some valuable lessons are to be gleaned from these documents. This study briefly looked at the recent history on the establishment of commodity exchanges in Eastern and Southern Africa and the importance of a WRS and the role that warehouse receipt financing has played in their development. The objective was to learn from their experience and/or mistakes and to benefit from their success. Over recent years, the role, benefits and in some cases, the reasons for the failure of commodity exchanges in Africa, have extensively been researched. The study captures some of the invaluable observations made by many experts in this subject field. Aspects dealt with include, inter alia, the benefits of a successful WRS and a commodity exchange. This study deals with the requirements of a WRS, followed by the rules. The latter have been revisited and evaluated for Malawi, given its unique circumstances and the ever changing environment. Many of the processes have been visually depicted in a set of flow charts. This is followed by an analysis of the bank credit policies and procedures required for financing the WRs. As elaborated and included in the annexures, a draft product proposal has been compiled for bank product managers to submit to their respective credit policy committees seeking approval for the product. The process of financing a warehouse certificate and its redemption is dealt with in detail. In the latter part, this study looked at the role of the insurance companies and best practices followed in other countries. Other aspects highlighted are the corporate structure of ACE, government intervention, the Reserve Bank of Malawi (RBM), the IT structure, marketing, price information and arbitration. The study concludes that a well-designed and custom made WRS (for ACE) depends on various components. They are an online trading system, warehouse receipt (WR) financing, insurance, generic grading regulations and registered warehouses. ACE would struggle to grow and functions properly without a successful WRS. ACE could overcome many other obstacles such as inappropriate government interference, export restrictions, etc. However, ACE needs to be operationally competent and for ACE this is tied to a successful WRS. If ACE could succeed, it will serve as a case study for other countries and exchanges in the region to learn from. Lastly, a series of recommendations are made. The recommendations deal with findings from the study that needs to be addressed. Some issues are urgent and others may be dealt with over the longer term. Certain issues fell outside the scope of this study but still deserve attention. / Dissertation (MSc(Agric))--University of Pretoria, 2013. / Agricultural Economics, Extension and Rural Development / unrestricted

O efeito chicote é um fenômeno que está associado às incertezas na previsão da demanda e pode causar impactos negativos nas cadeias onde ele ocorre. Este trabalho buscou verificar a ocorrência do fenômeno no recorte específico da cadeia Estado produtor – porto exportador do Brasil no período de 2010 a 2012. A metodologia utilizada foi a aplicação do modelo de Fransso e Wouters (2000) para a verificação da ocorrência do efeito. Os resultados apontam para a ocorrência do fenômeno de forma diferente nos três portos, em função da diferente forma de escoar a produção adotada pelos Estados produtores brasileiros; o efeito chicote encontrado apresentou nível de significância baixo para esse recorte da cadeia provavelmente devido a características das cadeias de commodity agrícola. / The bullwhip effect is a phenomenon that is associated with the uncertainties in forecasting of demand and may negatively impact chains where it occurs. This study search to verify the occurrence of the phenomenon in the specific focus of the chain producer State -. Exporter port in Brazil in the period 2010-2012. The methodology used was the application of the model Fransso and Wouters (2000) to verify the occurrence of the effect. The results point to the occurrence of the phenomenon differently in the three ports due to the different way of disposing of production adopted by Brazilian States producers, the bullwhip effect found showed low level of significance for this clipping the chain probably due to characteristics of the chains agricultural commodity.

O efeito chicote é um fenômeno que está associado às incertezas na previsão da demanda e pode causar impactos negativos nas cadeias onde ele ocorre. Este trabalho buscou verificar a ocorrência do fenômeno no recorte específico da cadeia Estado produtor – porto exportador do Brasil no período de 2010 a 2012. A metodologia utilizada foi a aplicação do modelo de Fransso e Wouters (2000) para a verificação da ocorrência do efeito. Os resultados apontam para a ocorrência do fenômeno de forma diferente nos três portos, em função da diferente forma de escoar a produção adotada pelos Estados produtores brasileiros; o efeito chicote encontrado apresentou nível de significância baixo para esse recorte da cadeia provavelmente devido a características das cadeias de commodity agrícola. / The bullwhip effect is a phenomenon that is associated with the uncertainties in forecasting of demand and may negatively impact chains where it occurs. This study search to verify the occurrence of the phenomenon in the specific focus of the chain producer State -. Exporter port in Brazil in the period 2010-2012. The methodology used was the application of the model Fransso and Wouters (2000) to verify the occurrence of the effect. The results point to the occurrence of the phenomenon differently in the three ports due to the different way of disposing of production adopted by Brazilian States producers, the bullwhip effect found showed low level of significance for this clipping the chain probably due to characteristics of the chains agricultural commodity.

O efeito chicote é um fenômeno que está associado às incertezas na previsão da demanda e pode causar impactos negativos nas cadeias onde ele ocorre. Este trabalho buscou verificar a ocorrência do fenômeno no recorte específico da cadeia Estado produtor – porto exportador do Brasil no período de 2010 a 2012. A metodologia utilizada foi a aplicação do modelo de Fransso e Wouters (2000) para a verificação da ocorrência do efeito. Os resultados apontam para a ocorrência do fenômeno de forma diferente nos três portos, em função da diferente forma de escoar a produção adotada pelos Estados produtores brasileiros; o efeito chicote encontrado apresentou nível de significância baixo para esse recorte da cadeia provavelmente devido a características das cadeias de commodity agrícola. / The bullwhip effect is a phenomenon that is associated with the uncertainties in forecasting of demand and may negatively impact chains where it occurs. This study search to verify the occurrence of the phenomenon in the specific focus of the chain producer State -. Exporter port in Brazil in the period 2010-2012. The methodology used was the application of the model Fransso and Wouters (2000) to verify the occurrence of the effect. The results point to the occurrence of the phenomenon differently in the three ports due to the different way of disposing of production adopted by Brazilian States producers, the bullwhip effect found showed low level of significance for this clipping the chain probably due to characteristics of the chains agricultural commodity.

La régulation des marchés des matières premières agricoles est un travail qui vise à évaluer les conséquences de l‘évolution de notre société sur ce produit essentiel. En effet, son prix est soumis à de nombreuses influences. Pourtant le droit a décidé pour le moment de s‘en détourner dans la majorité. Ce travail doctoral tente ainsi de déterminer quelles sont les points faibles des législations dans plusieurs domaines afin de sécuriser ce produit dont la valeur inconsciente est essentielle pour obtenir la paix social que le droit tend à obtenir. / The regulation of agricultural commodity markets is a academic‘s work that evaluates the consequences of the evolution of our society on this essential product. Indeed, its price is subject to many influences. Yet the Law has decided for the moment to turn away from it in the majority. This doctoral work thus tries to determine what are the weak points of the legislations in several fields in order to secure this product whose unconscious value is essential to obtain the social peace that the Law tends to obtain.