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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
31

Evolução histórica da concentração da indústria de refino de açúcar na região Centro-Sul do Brasil e análise da sua estrutura de equilíbrio / Historical evolution of refined sugar industry concentration in Center-South of Brazil and analysis of equilibrium structure of this industry

Rodrigues, Laura Poggi 12 December 2005 (has links)
O presente trabalho teve, por objetivo, caracterizar a indústria de refino de açúcar no Brasil e identificar o modelo de comportamento da concentração de mercado da referida indústria para a região Centro-Sul do Brasil. Procurou-se analisar a influência dos distintos níveis de competição via preço e barreiras à entrada sobre a sua estrutura de mercado. Também foram analisadas a influência de fatores exógenos, como intervenção do governo, organização setorial e estratégias empresariais, na determinação da concentração de mercado do setor; o valor das barreiras à entrada para uma indústria média, baseada na análise da escala mínima eficiente de produção. Para tanto, utilizou-se o modelo teórico desenvolvido por Sutton (1991), que é o modelo do jogo de dois estágios para indústrias intensivas em sunk cost exógenos. Compararamse os resultados com os encontrados pelo autor para a Europa, o Japão, os Estados Unidos e Taiwan. Para tanto, definiu-se o mercado relevante como a região Centro-Sul do Brasil e calcularam-se a razão de concentração da referida indústria e a razão entre tamanho de mercado e nível de sunk cost exógeno. O valor encontrado para 2001 (σ/S igual a 0,8407%) é condizente com os dos países analisados por Sutton, que evidenciam o alto índice de custos irrecuperáveis e a existência de barreiras à entrada e explicam a estrutura de mercado encontrada. Verificou-se que a indústria de refino de açúcar no Brasil, inicialmente, foi construída por pequenos e médios grupos comerciais, com intensa atividade regional, sendo o setor regionalmente concentrado. Durante a fase de intervenção, destaca-se o forte caráter concentrado da indústria, apresentando na década de 1980, o CR4 da indústria de cerca de 80%. Nas décadas de 1990 e 2000, houve o crescimento e o surgimento de marcas menores, ao mesmo tempo em que a marca líder (União) teve reduzida sua importância no total das vendas do setor. Um dos elementos que explicam o forte caráter concentrado da indústria são as barreiras à entrada no setor: assim como as indústrias de açúcar refinado dos países analisados, a indústria de açúcar refinado do Brasil apresenta, de acordo com dados calculados para o ano 2003, alta barreira à entrada, em relação ao tamanho do mercado. No entanto, se, por um lado, a indústria apresenta elevados índices de concentração, por outro, acredita-se que os produtores de açúcar refinado não possam se utilizar desse poder de mercado junto aos consumidores. Os preços internos sofrem grande influência do mercado internacional, além da forte pressão do varejo supermercadista, também concentrado. Verificou-se que os preços descendentes ao longo do tempo são positivamente relacionados com a evolução da estrutura de mercado do período analisado. / The aim of the present work was to evaluate the refined sugar industryin Brazil and to identify its market behavior in the central region in Southern Brazil Accordingly, this study analyzed the influence of distinct levels of competition concerning price and entrance barriers on the market structure. Some exogenous factors, such as public regulation, sectorial organization, and strategies to set up costs, were also verified to determine the market sector’s concentration. the theoretical model of two-stage game for industries intensive in exogenous sunk cost described by Sutton (1991) was used to determine the value of the set up costs for a single plant of minimum efficient scale (m.e.s). Data of the present study were compared to those reported by Sutton (1991), whose study focused on Europe, Japan, United States and Taiwan. The present work, however, focused on the central region in Southern Brazil. The ratio of the market concentration of the sugar-refining industry, as well as the ratio of its market size and exogenous sunk cost was calculated. The value of σ/S found for 2001 was 0.8407%, consistent with the values found for the countries analyzed by Sutton; furthermore, this result evidences the high index of set up costs and existence of barriers of entrance, suggesting that that the industry of refining sugar in Brazil was initiated with small and average commercial groups, with a regionally-concentrated sector. During the regulated period the industry was highly concentrated (by the 1980s the CR4 was about 80%). In the 1990s, there was a great entrance of new brands and consequently a decline in the leader brand (União). One of the reasons that such industry is highly concentrated is the huge sunk cost. Like the refined sugar industry analyzed in other countries, the Brazilian refined sugar industry presented, in 2003, high exogenous sunk cost in relation to the size market.
32

Unternehmenszusammenschlüsse in der Milch- und Zuckerindustrie unter wettbewerbsrechtlichen und ökonomischen Gesichtspunkten / Law and economics of mergers and acquisitions in the agribusiness sector

Janz, Christian 20 January 2003 (has links)
No description available.
33

Improving the productivity and competitiveness of small-scale sugarcane contractors in KwaZulu-Natal.

Nothard, Brendon Wasley. January 2004 (has links)
The productivity of small-scale sugarcane contractors affects not only their own profitability and sustainability, but that of other stakeholders as well, such as the small-scale sugarcane farmers they contract to and the sugar mills these farmers supply in the form of improved services to growers and a steady flow of sugarcane to mills. This study firstly illustrates the organisational structures of the sugar industry. It then aims to identify constraints that inhibit the performance (such as timely haulage operations and cost effectiveness) of small-scale sugarcane contractors in the small-scale sugar industry of KwaZulu-Natal (KZN). To obtain this information, interviews were conducted with 124 randomly selected contractors from 11 mill group areas in KZN between September 2002 and July 2003. Case studies (concerning institutional issues such as organisational structures) of contractors, sub-committee members, and development officers were also conducted in eight mill group areas of KZN between September 2002 and February 2004. Sample statistics and case study results show that contractors face institutional constraints (work allocation limitations, lack of performance incentives and high transaction costs, such as negotiation costs, the risk of losing work and contract default risk), cash flow problems, poor physical infrastructure and a lack of labour. It is concluded that the promotion of a more competitive small-scale sugarcane contractor sector will alleviate many of the problems (such as work allocation limitations) faced by small-scale contractors, while providing incentives for the provision of higher quality and cheaper services to small-scale sugarcane growers. The study also examines the attributes of small-scale sugarcane contractors that affect their quality of service as perceived by small-scale sugarcane growers (SSGs) within current institutions. Information is drawn from the same sample survey, although ten observations from the Umfolozi area are excluded because they were not part of the sample drawn from population lists. Further interviews were conducted in the same time period with SSGs for information on contractor service quality (transport and general service timeliness, meeting of daily ratable delivery requirements, low downtimes, good staff management, and minimal disagreements on service terms). Results show that factors affecting a contractor's perceived service quality include gender, training, the quality of information used (industry focused information sources such as the South African Sugar Association Experiment Station (SASEX) and the Ingede magazine, or general sources such as the radio), and sugarcane tonnage transported (size of business). Being a male contractor and having a larger business positively influence service rating as perceived by SSGs. The importance of the quality of information used and increased training levels highlights the need for the continual provision of relevant information and training for sugarcane contractors by extension services (government, SASEX and milling companies). The study also identifies the need for further research on the issue of contractor machinery costs. In a competitive sector contractors would need to have adequate information on own costs in order to compare these with contract rates in the market. Further guidance by extension staff and other industry advisors (e.g. development officers) in the accessing of adequate finance may also be necessary. Government has a role in strategising the creation of land markets to promote efficient use of resources (land), while providing improved rural infrastructure (mainly district roads). Government also needs to ensure unbiased tribal court rulings, review the impacts of minimum wage legislation on contractors sourcing labour, and provide protection for those competing for work. / Thesis (M.Sc.)-University of KwaZulu-Natal, Pietermaritzburg, 2004.
34

Democracy, Dictatorship, and Development - European Union Pacific Development Policy in Action: A study of Fijian society since December 2006.

Lyttle, David Michael John January 2009 (has links)
In early December 2006, the Fijian military seized power in a coup led by the Armed Forces commander Commodore Frank Bainimarama. It was a coup long expected, and Fiji’s fourth since 1987. Internationally, the response was swift imposing sanctions and removing or delaying international aid programmes. This has a potentially significant impact on Fiji because it is one of the largest per capita recipients of developmental aid funding in the world. However, it may also have little impact because, despite such assistance, the Fijian GDP has stagnated with an average growth of under 1% for the last 20 years. Other developmental indicators are also bleak. This thesis thus examines the dichotomy between Fiji’s ODA and its apparent inability to arrest the decline of the Fijian lifestyle and economy. However, to review all international developmental programmes across all sectors of Fijian society, while maintaining contemporary relevance and coherency, is untenable. Therefore, the thesis will focus on the European Union and its external relations with Fiji. The EU is one of the most influential partners for Fiji and is often overlooked by scholars, allowing this thesis to make a valuable contribution to developmental studies in the pacific region. The thesis has selected and examines four sectors of Fijian society, that of the Economy, Governance, Sugar, and Education sectors. This is because they are the sectors that the European Union is presently devoting most attention. Therefore, these areas best illustrate Fijian reaction to the importance and effectiveness of EU involvement. Overall, the thesis intends to demonstrate both the efficacy and the attitudes of local representatives to foreign aid programmes, and ultimately provide a unique ‘inside looking out' perspective not typical of publications about Fiji.
35

Evolução histórica da concentração da indústria de refino de açúcar na região Centro-Sul do Brasil e análise da sua estrutura de equilíbrio / Historical evolution of refined sugar industry concentration in Center-South of Brazil and analysis of equilibrium structure of this industry

Laura Poggi Rodrigues 12 December 2005 (has links)
O presente trabalho teve, por objetivo, caracterizar a indústria de refino de açúcar no Brasil e identificar o modelo de comportamento da concentração de mercado da referida indústria para a região Centro-Sul do Brasil. Procurou-se analisar a influência dos distintos níveis de competição via preço e barreiras à entrada sobre a sua estrutura de mercado. Também foram analisadas a influência de fatores exógenos, como intervenção do governo, organização setorial e estratégias empresariais, na determinação da concentração de mercado do setor; o valor das barreiras à entrada para uma indústria média, baseada na análise da escala mínima eficiente de produção. Para tanto, utilizou-se o modelo teórico desenvolvido por Sutton (1991), que é o modelo do jogo de dois estágios para indústrias intensivas em sunk cost exógenos. Compararamse os resultados com os encontrados pelo autor para a Europa, o Japão, os Estados Unidos e Taiwan. Para tanto, definiu-se o mercado relevante como a região Centro-Sul do Brasil e calcularam-se a razão de concentração da referida indústria e a razão entre tamanho de mercado e nível de sunk cost exógeno. O valor encontrado para 2001 (σ/S igual a 0,8407%) é condizente com os dos países analisados por Sutton, que evidenciam o alto índice de custos irrecuperáveis e a existência de barreiras à entrada e explicam a estrutura de mercado encontrada. Verificou-se que a indústria de refino de açúcar no Brasil, inicialmente, foi construída por pequenos e médios grupos comerciais, com intensa atividade regional, sendo o setor regionalmente concentrado. Durante a fase de intervenção, destaca-se o forte caráter concentrado da indústria, apresentando na década de 1980, o CR4 da indústria de cerca de 80%. Nas décadas de 1990 e 2000, houve o crescimento e o surgimento de marcas menores, ao mesmo tempo em que a marca líder (União) teve reduzida sua importância no total das vendas do setor. Um dos elementos que explicam o forte caráter concentrado da indústria são as barreiras à entrada no setor: assim como as indústrias de açúcar refinado dos países analisados, a indústria de açúcar refinado do Brasil apresenta, de acordo com dados calculados para o ano 2003, alta barreira à entrada, em relação ao tamanho do mercado. No entanto, se, por um lado, a indústria apresenta elevados índices de concentração, por outro, acredita-se que os produtores de açúcar refinado não possam se utilizar desse poder de mercado junto aos consumidores. Os preços internos sofrem grande influência do mercado internacional, além da forte pressão do varejo supermercadista, também concentrado. Verificou-se que os preços descendentes ao longo do tempo são positivamente relacionados com a evolução da estrutura de mercado do período analisado. / The aim of the present work was to evaluate the refined sugar industryin Brazil and to identify its market behavior in the central region in Southern Brazil Accordingly, this study analyzed the influence of distinct levels of competition concerning price and entrance barriers on the market structure. Some exogenous factors, such as public regulation, sectorial organization, and strategies to set up costs, were also verified to determine the market sector’s concentration. the theoretical model of two-stage game for industries intensive in exogenous sunk cost described by Sutton (1991) was used to determine the value of the set up costs for a single plant of minimum efficient scale (m.e.s). Data of the present study were compared to those reported by Sutton (1991), whose study focused on Europe, Japan, United States and Taiwan. The present work, however, focused on the central region in Southern Brazil. The ratio of the market concentration of the sugar-refining industry, as well as the ratio of its market size and exogenous sunk cost was calculated. The value of σ/S found for 2001 was 0.8407%, consistent with the values found for the countries analyzed by Sutton; furthermore, this result evidences the high index of set up costs and existence of barriers of entrance, suggesting that that the industry of refining sugar in Brazil was initiated with small and average commercial groups, with a regionally-concentrated sector. During the regulated period the industry was highly concentrated (by the 1980s the CR4 was about 80%). In the 1990s, there was a great entrance of new brands and consequently a decline in the leader brand (União). One of the reasons that such industry is highly concentrated is the huge sunk cost. Like the refined sugar industry analyzed in other countries, the Brazilian refined sugar industry presented, in 2003, high exogenous sunk cost in relation to the size market.
36

Influência da utilização de práticas de gestão operacional no desempenho de empresas do setor sucroalcooleiro no estado de São Paulo

Mauro , Maurício de 17 December 2010 (has links)
Submitted by Cristiane Oliveira (cristiane.oliveira@fgv.br) on 2011-06-02T14:31:22Z No. of bitstreams: 1 68080200026.pdf: 3515453 bytes, checksum: 7e4ca1af1e1cf676e410e57055300f46 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia(suzinei.garcia@fgv.br) on 2011-06-02T14:53:26Z (GMT) No. of bitstreams: 1 68080200026.pdf: 3515453 bytes, checksum: 7e4ca1af1e1cf676e410e57055300f46 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia(suzinei.garcia@fgv.br) on 2011-06-02T15:10:08Z (GMT) No. of bitstreams: 1 68080200026.pdf: 3515453 bytes, checksum: 7e4ca1af1e1cf676e410e57055300f46 (MD5) / Made available in DSpace on 2011-06-02T15:12:46Z (GMT). No. of bitstreams: 1 68080200026.pdf: 3515453 bytes, checksum: 7e4ca1af1e1cf676e410e57055300f46 (MD5) Previous issue date: 2010-12-17 / The understanding of the necessary conditions that turn possible the sustainable competitive advantage for the firms has been the main research field of strategy. The discussion about which factors generate diferent firms performances and the reasons why there are different creation of value between companies that work within the same market, figure amongst the most important topics in both academy and management. Amongst vision of strategic thinking, the Resource-based View (RBV) provides a conceptual basis for these issues, identifying internal competences and resources as sources of competitive advantage. This work was developed from this concepts and from the research question: Does the effective use of operational management practices affect the performance of sugar and ethanol firms of São Paulo State? The work is structured in four main topics: (a) the description of the context of the sugar and ethanol industry, focusing on the evolution os competitiveness and the management practices in use; (b) a theoretical revision about competitive advantage sources, through the RBV concepts and about performance construct; (c) the field research, conducted from a questionnaire developed by 'Observatório de Gestão: Práticas Gerenciais de Empresas Brasileiras', wich by its turn, is based on a questionnaire from the research carried by Centre for Economic Performance (CEP) of London School of Economics and Political Science. The base questionnaire was adapted after a qualitative research with experts of the sugar and ethanol industry and (d) the analysis of the received data and the results and conclusions of this work. The results of multiple regression and the clusters analysis showed that there is a statistic positive relation between operational and financial management practices and firm performance, represented by profitability and growth. Also, some results indicated that other evaluated management practices, despite no statistical significance, showed the same tendency of positive relation with performance. / A compreensão das condições necessárias para a criação de vantagem competitiva sustentável nas empresas tem sido o principal campo de estudo da estratégia empresarial. A discussão sobre quais fatores são geradores de diferenças significativas no desempenho entre empresas e qual a razão da criação de valor superior de algumas sobre outras que operam no mesmo mercado, são temas de extrema relevância, tanto na academia quanto na gestão empresarial. Entre as escolas de pensamento estratégico, a Visão Baseada em Recursos – RBV (Resource-Based View) oferece uma explicação conceitual para estes temas, indicando que os recursos e competências internas das empresas podem ser a base para a construção de diferenciais competitivos sustentáveis. Este trabalho foi desenvolvido a partir desta base teórica e da pergunta de pesquisa: 'A utilização efetiva de práticas de gestão operacional influencia o desempenho das empresas do setor sucroalcooleiro no Estado de São Paulo?' O trabalho está estruturado em quatro grandes tópicos: (a) a descrição do contexto da Indústria pesquisada, principalmente no que se refere à evolução do ambiente competitivo e das práticas de gestão utilizadas; (b) uma revisão teórica sobre competitividade e sobre as fontes de vantagem competitiva, a partir dos conceitos da RBV e sobre o construto desempenho; (c) a pesquisa de campo, realizada a partir de um questionário desenvolvido pelo 'Observatório de Gestão: Práticas Gerenciais de Empresas Brasileiras', que por sua vez tem como base o questionário da pesquisa originalmente conduzida pelo Centre for Economic Performance (CEP) da London School of Economics and Political Science. O questionário base foi adaptado após pesquisa qualitativa realizada com especialistas do setor sucroalcooleiro do Estado de São Paulo e (d) a análise dos dados obtidos e conclusões resultantes da pesquisa. Os resultados da regressão múltipla e da análise de clusters evidenciaram que existe relação positiva significativa entre a utilização de práticas de gestão operacional e de gestão financeira sobre o desempenho das empresas representado por lucratividade e crescimento. Foram encontrados ainda resultados indicando que outras práticas avaliadas, ainda que não tenha relação estatística significativa, apresentaram a mesma tendência de relação positiva com o desempenho.
37

Obtenção de extrato proveniente do aproveitamento de residuo da industria sucroalcooleira, utilizando CO2 supercritico : parametros de processo e estimativa do custo de manufatura / Obtaining extract from the residue of the sugar cane and alcohol industrial using supercritical CO2 : process parameter and estimative of the cost of manufacturing

Shintaku, Alberto 05 August 2006 (has links)
Orientadores: Maria Angela de Almeida Meireles, Carlos Eduardo Vaz Rossell / Dissertação (mestrado) - Universidade Estadual de Campinas, Faculdade de Engenharia de Alimentos / Made available in DSpace on 2018-08-06T15:36:00Z (GMT). No. of bitstreams: 1 Shintaku_Alberto_M.pdf: 7098448 bytes, checksum: b538eba167ccbd49382fabb569cc75ee (MD5) Previous issue date: 2006 / Resumo: Neste trabalho estimou-se o custo de obtenção de extratos de cera, por extração supercrítica, a partir do resíduo da industria de açúcar e álcool, a torta de filtro. Foram realizados ensaios para determinação das isotermas de rendimento global, as curvas globais de extração (cinéticas de extração) e a identificação da composição química dos extratos obtidos. Na determinação da isoterma de rendimento global foram estudadas as pressões no intervalo de 100 a 350 bar com variações de 50 bar para as temperaturas de 30 e 50 ºC inicialmente para a matéria prima A. A quantidade utilizada de matéria prima (matéria prima A) foi de 2,5 gramas e uma vazão de CO2 de 0,249 ± 0,002 kg/h. Todos os ensaios foram realizados em duplicata e o tempo de extração de 60 min.. Para obtenção das curvas globais de extração foram utilizadas matérias primas distintas provenientes de 3 regiões do estado de São Paulo (matérias primas A, B e C). A temperatura de 50 ºC foi escolhida inicialmente para a matéria prima A, com as pressões de 200 bar e 350 bar respectivamente. Em seguida foi utilizado o binômio: temperatura e pressão, de 60 ºC e 200 bar para a matéria prima A, B e C sendo a temperatura escolhida pela característica do extrato de alta viscosidade (sólido à temperatura ambiente). A quantidade de matéria prima utilizada em cada ensaio foi de 25 gramas, uma vazão de 0,249 ± 0,003 kg/h de CO2, que fornece uma relação de 15 kg de CO2/kg de matéria prima. O tempo de extração utilizado para cada ensaio foi de 360 minutos. A partir do rendimento de extração, do tempo de extração do período CER (Constant Extraction Rate) e das características físicas da matéria prima (densidade, porosidade, etc.), foi estimada a capacidade dos extratores tomando-se o cuidado de dimensionar um extrator compatível com a capacidade de extratores comerciais existentes. Esta estimativa de capacidade permitiu a obtenção do custo do produto, a partir de uma análise econômica. A análise de sensibilidade do custo de produção para variações no custo de investimento, custo de insumos, custo de energia, custo de mão de obra e rendimento de extração, mostrou que o mesmo é influenciado principalmente pela variação no custo de investimento e pela variação do rendimento de extração. O custo de produção do extrato de cera foi estimado em US$ 13.626,93/tonelada / Abstract: The purpose of this work was to determine the manufacturing cost for the wax extract obtained from residues of the sugar cane and ethanol industry (filter cake), using SFE (Supercritical Fluid Extraction). Experiments were accomplished to determine the global yield isotherms, the overall extraction curves (kinetic of extraction) and to identification chemical composition of the extracts. The global yield isotherms were determined at the pressures of 100, 150, 200, 250, 300 and 350 bar and temperatures of 50 ºC and 30 ºC The amount of raw material (raw material A) used in each trial was 2.5 grams and a CO2 flowrate of 0.249 ± 0.002 kg/h. The experiments were duplicated. In order to determine the overall extraction curves (OEC), distinct raw materials were used from three different regions of São Paulo State (raw materials A, B and C). The OEC for the raw material A was initially determined at 50 ºC, with 200 bar and 350 bar of pressure respectively. In spite of 50 ºC be chosen initially, the experiments were accomplished in the SFE (Supercritical Fluid Extraction) equipment at 60 ºC and 200 bar for the raw material A, B and C being the temperature chosen due to characteristics of extract high viscosity (solid state at the ambient or room temperature). A 25 grams raw material sample was used in each trial with an outflow of 0,249 ± 0,003 kg/h of CO2 (a relation of 15 kg of CO2/kg of raw material). The extractors capacity was estimated from the extraction yield, the extraction time of Constant Extraction Rate period (CER) and the physical characteristics of the raw material (density, porosity, etc.). Extractors sizing considered the compatibility with existent extractors commercial capacity. This capacity estimation allowed the attainment of the product cost, from an economic analysis where investment cost, equipment cost, cost of operating labor, cost of operating supplies, etc. have been determined, composing the total extraction cost. The cost sensitivity was analyzed for variations in the investment cost, cost of operating supplies, energy cost, cost of operating labor and extraction income, showing that the production cost is influenced mainly by the variation in the investment cost and by the variation of the extraction yield. The determined wax extract obtaining cost, with SFE technology, was US$ 13,626.93/ton except for taxes / Mestrado / Mestre em Engenharia de Alimentos
38

Systém řízení a chránění turbogenerátorů / System control and protection turbo generators

Veverka, Marek January 2008 (has links)
The topic of this thesis is description, analysis and proposal of turbo generator’s control and protection system. The power output of turbo generators is from 3 MVA up to 75 MVA for various industrial sectors. The final proposal is based on the results of this analysis and it consists of a modern control and protection turbo generators systems. This proposal is designed to respect universality, customer’s requirements. And this proposal should be used in many industry branches.
39

Economic and institutional factors affecting the performance of the graduated mortgage loan repayment scheme used by medium-scale sugarcane farmers in KwaZulu-Natal.

Mashatola, Mopai Clement. January 2003 (has links)
Private sector sugar millers and Ithala Development Finance Corporation (Ithala) implemented a graduated mortgage loan repayment scheme in the 1995/96 sugarcane production-season to try and improve access to farmland by aspirant commercial farmers in KwaZulu-Natal. By March 2001, the scheme had financed 106 "medium scale farmers" (MSFs), 99 of whom were still in the scheme (one loan had been repaid from own funds, and another six from the proceeds of life insurance policies). The first aim of this study was to analyse factors affecting whether or not the MSFs were current or in arrears on loan repayments as at 31 March 2001. A logit model based on full information for 83 MSFs shows that the estimated probability of a MSF being current on loan repayments was higher for clients with higher levels of average annual gross turnover relative to loan size, and for clients with access to substantive off-farm income. This suggests that farm size (proxied by annual farm gross turnover) does matter when policymakers in South Africa consider future similar schemes designed to improve access to commercial farmland by people that previously could not buy farmland. Smaller-sized, creditworthy farms with loan sizes that are relatively low compared to the expected average annual gross income may also be viable. Access to off-farm income could also be considered as a criterion in selecting potential farmers for future similar schemes, as it helps to provide additional liquidity to fund future operations and debt repayments, and can reduce leverage levels. The second aim was to conduct personal interviews with the 99 MSFs between July and September 2001 in order to identify what aspects of the scheme could be improved for new members . Responses from 88 of these MSFs show that 68% of them would opt to first rent land before purchasing, while 78% of them recognize, or have experienced, the cash flow problem associated with land purchase. Most of the MSFs felt that long-term sugarcane supply agreements constrain enterprise diversification, and that the quality of mentorship that they currently received was not satisfactory. Industry players could consider leveraging donor funding for empowerment projects to improve the quality of future mentorship programmes. There is also some scope for Ithala to improve the client-lender relationship by better clarifying the structure of the graduated repayments, sending loan statements on time, and helping clients to interpret loan statements. Growers perceive the need for a coordinator to monitor, and advise on how to improve, their financial performance this could be a new commercial service opportunity. Using an independent valuer to conduct farm valuations may also be necessary to avoid perceptions of bias in the value of farms offered for sale by the millers. A logit model of the MSFs' preferences for first renting land before purchase shows that new growers joining this scheme, or similar schemes for other farm products, with relatively less liquidity and less farming experience should be given the choice to rent land with an option to purchase. The preference for first renting by most of the surveyed MSFs could indicate that many very highly leveraged MSFs still experience cash flow stress despite the interest rate subsidy. A second policy implication, therefore, is that the current subsidy level, which reduces the effective starting interest rate level to about ten per cent relative to a typical five per cent current return on land, could be increased to promote access to farmland markets. Alternatively, loan terms in the next round of the scheme could be changed to require higher proportions of own equity (lower leverage levels), or to permit the deferral of principal payments, or to permit the purchase of smaller farms by creditworthy, part-time farmers. Another strategy to improve liquidity is to advise growers to limit family drawings in the early years after farmland purchase. / Thesis (M.Sc.Agric.)-University of Natal, Pietermaritzburg, 2003.

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