The Government of the Russian Federation has proposed to abolish the duty on wheat exports from September 15 to July 2018. The duty was first introduced in February 2015 and was subsequently adjusted several times according to market conditions. Since October 2015, the duty to be paid has been set at 50 percent of the contract price in US dollars minus RUB 6 500 rubles (about USD 100) per tonne, with a minimum threshold of RUB 10 (0.15 USD) per tonne (FPMA Food Policies). The proposal to remove the duty follows the stabilization of the local currency and aims to stimulate exports, as the record crop this year will further boost already high domestic supplies.