Indonesian Seafood Export Price Lists: What Affects Costs

A buyer-first guide to normalize and lock Indonesian seafood prices against IDR-USD swings. Real math, clear rate choices, a plug-and-play exchange rate clause, and practical timing tips you can use on your next PO.

If your Indonesian seafood price moved this week even though raw fish stayed flat, the culprit was probably the rupiah. We’ve seen clean, stable fish markets still produce price whiplash for buyers simply because quotes weren’t normalized for IDR-USD. The good news is you can make this predictable. Here’s the playbook we use with quality-focused importers who buy everything from white fish fillets to sashimi-grade tuna.

The fast math: what does a 100 IDR move do to USD per kg?

USD price per kg is simply IDR cost per kg divided by the exchange rate.

Price_USD = Cost_IDR ÷ FX (IDR per 1 USD)

Rule of thumb for a small change of 100 IDR:

Change_USD per kg ≈ Current USD price × (100 ÷ FX)

Example at FX = 16,000 IDR per USD:

• If your current USD price is 10.00 per kg, a 100 IDR move changes price by about 10 × 100 ÷ 16,000 = 0.0625. So roughly six cents per 100 IDR.
• At a 12.50 USD per kg price, the same 100 IDR move is about 0.078 per kg.

This is why weekly swings of 300–500 IDR can shift landed cost meaningfully even when fish supply and yields are unchanged. The higher the USD price, the bigger the per-kg sensitivity.

Which rate should we peg quotes to: JISDOR, bank TT, or kurs pajak?

We recommend anchoring to Bank Indonesia’s JISDOR. It is public, auditable, and updates once daily on business days around late morning Jakarta time. You can check the latest on BI’s page: JISDOR daily rate.

Here is how the common rates differ in practice:

• JISDOR. Independent reference fixing. Great for contracts and quote normalization because everyone can see it.
• Bank TT (telegraphic transfer) rate. This is your factory’s actual conversion rate when they buy or sell USD with their bank. It usually tracks JISDOR with a spread. Some suppliers insist on TT because it matches their real cost at booking time.
• Kurs pajak. This is a government tax reference rate. It is useful for customs valuation but not ideal for commercial pricing.

In our experience, the least controversial path is to peg to JISDOR for quoting and price adjustment. Then allow a small buffer to reflect the bank TT spread on the settlement day. More on buffers below.

Can you get a fixed USD price for 7–14 days during volatility?

Yes, but you have to ask for it explicitly and align on an FX anchor. What we see working right now:

• 7 days fixed USD price on standard white fish items like Grouper Fillet (IQF) or Sweetlip Fillet (IQF) with a 0.5–1.5 percent FX buffer in the quote.
• 14 days fixed for repeat SKUs when volume is clear and raw material is secured in-house.
• For sashimi-grade tuna like Yellowfin Saku (Sushi Grade) or premium Bigeye Steak, two-week fixes are often available if we hedge on day one. There is a hedge cost that may be reflected in the price or the buffer.

Practical takeaway. Ask for price validity in writing. If you hear “valid subject to FX,” push for a JISDOR-anchored clause so small moves do not force a re-quote.

What’s a fair FX buffer percentage in Indonesian seafood quotes?

A fair range depends on volatility and the validity period.

• Stable periods. 0.5–1.0 percent typically covers the bank TT spread and minor day-to-day noise.
• Moderate volatility or 7–14 day validity. 1.0–2.0 percent is common.
• Very choppy weeks or 30+ day validity. 2.0–3.0 percent is realistic unless you and the supplier hedge.

We use the buffer for FX only, not to mask raw material or processing changes. That clarity builds trust and reduces back-and-forth later.

Should you pay suppliers in USD or IDR?

There is no single right answer, but here is how we guide buyers:

• Pay in USD if your revenue and funding are in USD. You eliminate your FX work and keep comparisons across suppliers simple. This is the default for most export seafood POs.
• Consider IDR only if you can access a better rate than the exporter’s bank and you want to actively manage FX. You are taking on the FX role the supplier normally handles. Make sure you confirm the invoicing and compliance steps before choosing IDR settlement.

Reality check. For most importers, USD settlement plus a good adjustment clause is cleaner and often cheaper once you factor in time and slippage.

A plug-and-play exchange rate adjustment clause you can use

Here is a simple clause buyers and Indonesian processors accept because the math is transparent. Adapt the dates to your flow.

Base FX. JISDOR USD/IDR = R0 on Quote Date.

Base price. P0 in USD per kg at R0.

Settlement FX. JISDOR on the earlier of Invoice Date or Advance Payment Date = R1. If R1 differs from R0 by more than 1.0 percent, the price adjusts. If the difference is within ±1.0 percent, price remains P0.

Adjustment formula. P_adj = P0 × (R0 ÷ R1). Rounding to 2 decimals per kg.

Cap and floor. Maximum adjustment ±3.0 percent unless both parties agree otherwise.

Worked example. Quote at R0 = 16,000 and P0 = 10.00 USD per kg. If R1 = 16,400, then P_adj = 10 × 16,000 ÷ 16,400 = 9.76 USD per kg. If R1 = 15,700, then P_adj = 10 × 16,000 ÷ 15,700 = 10.19 USD per kg.

If you need this clause tailored to your internal approvals or ERP, feel free to Contact us on whatsapp. We can also incorporate bank TT tolerances if your supplier insists on TT instead of JISDOR.

Why did my supplier re-quote when raw material didn’t change?

We usually find one of these five causes:

1. Their bank TT rate widened relative to JISDOR the day they intended to book USD.
2. They extended price validity beyond the buffer and the rupiah moved more than 1–2 percent.
3. Payment timing changed. If the PO shifted from deposit on day 3 to day 8, your invoice may have crossed a different JISDOR print.
4. They hedged late and need to pass through the hedge premium.
5. They are aligning to a buyer who asked for apples-to-apples normalization across multiple Indonesian quotes.

A short clause and a shared FX anchor prevent all five. We prefer to document this upfront rather than debate it when the container is being scheduled.

When to place POs to reduce FX noise

We have found three simple habits lower your FX slippage:

• Place or confirm POs just after the daily JISDOR print. This reduces the mismatch between quote and settlement. JISDOR is published on business days late morning Jakarta time.
• Avoid late Friday confirmations during choppy weeks. Monday prints can gap after US macro events.
• Use an average. For large orders, request a 2-day average of JISDOR to smooth daily spikes.

A quick aside. If your project has a hard price ceiling, ask us to pre-hedge on day one and embed the cost. We do this for program items like Mahi Mahi Portion (IQF) and ongoing tuna programs where consistency beats trying to top-tick FX.

Make quotes comparable: normalize to a stated FX

If you are collecting multiple bids from Indonesia, put this line in your RFQ so you can compare apples to apples:

“Please quote USD per kg normalized to JISDOR USD/IDR = 16,000. State your buffer percent and price validity. Include the exact formula you will use to adjust if JISDOR at invoice differs by more than 1 percent.”

You will be surprised how fast outliers disappear when everyone plays by the same math. We apply this in our own offers on products like Grouper Bites (Portion Cut), Goldband Snapper Fillet, and Yellowfin Steak. You can browse related SKUs here: View our products.

Quick calculator you can use right now

• Step 1. Take your current USD price per kg. Example: 11.20 USD per kg.
• Step 2. Take today’s JISDOR. Example: 16,050.
• Step 3. For every 100 IDR move, your USD per kg will change by roughly 11.20 × 100 ÷ 16,050 = 0.0698. Call it seven cents.
• Step 4. If your budget tolerance is ±10 cents per kg, then your FX tolerance band is about ±150 IDR from today’s rate. That tells you how long to ask for validity or whether to lock with a clause.

Final takeaways

• Know your sensitivity. Use the rule of thumb. Change per 100 IDR ≈ current USD price × 100 ÷ FX.
• Peg to JISDOR and define a 1 percent no-change band with a ±3 percent cap.
• Ask for 7–14 day validity on repeat items. Combine with a 1–2 percent FX buffer and you will rarely need a re-quote.
• Keep settlement simple. USD plus a clear clause is usually cheaper in time and basis risk than managing IDR yourself.

If you want us to sanity-check your current quotes or write an FX clause that fits your purchasing workflow, Call us. We’re happy to share what’s working for buyers right now and map it to your specific SKUs and delivery windows.