As a small and northern island-state, Iceland is dependent on imports of various goods, not least food. Recent financial troubles and the devaluation of the Icelandic Króna, in addition to a reminder of nature’s power in the Eyjafjallajökull eruption, have increased concerns over food security in the country. The country’s geographical location and climate is not conducive to a productive food industry. This leads to reliance on imports of food and on seeds and other inputs for food production. The paper analyses various specific threats that arise for security and suggests ways to counteract those challenges and threats. As Iceland’s administration is small and the focus is most often on pressing matters of the moment, it remains questionable whether potential future food insecurity is being given the right priority as a security issue. The question is whether Icelanders are ready to put their limited resources and labour into meeting these challenges and/or strengthening the food production. The paper demonstrates that interest in the issue is not high among the public. Until Icelanders pay attention to the issue and reach the conclusion that food is indeed a security issue, there is little chance that the authorities will devote scarce resources to the cause.