This paper analyses foreign direct investment (FDI) flows in food, beverages and tobacco, including primary agriculture and retail, from 2003 to 2014. It provides information on global, regional and - where possible - national trends in FDI flows in food, beverages and tobacco. When data are available, this study also provides more detailed insights into particular qualitative traits of FDI flows, such as whether FDI seems to be market- or resource-seeking, or in how far changes in sub-sector-specific investment could be linked to changes in consumer demand. Thus it contributes to the ongoing global debate on the relevance and characteristics of FDI in developing country agriculture.