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Is International Investment Law an obstacle to Food Security Policies? In order to answer this question, the present study compares the principle rules of Investment Law to the component of food security that is most likely to be affected by these rules, namely agricultural production. First, the issue of agricultural land ownership is considered through the rules governing admission of foreign investment, on the one hand, and expropriation on the other. Then we examine the issue of regulation of the use of agricultural land through the rules which protect foreign investors in the operation phase of their investments. Those are: the restriction of the imposition of trade obligations on foreign investors, treatment commitments made by host States (national treatment, Most-Favored-Nation principle, fair and equitable treatment) and protection of investments against indirect expropriation. What emerges is a nuanced result: food security policies should not ignore the rules of international investment law. Rather, subject to compliance with certain conditions, these rules do not prohibit the development of such policies.