This paper places land grabbing within the context of developments within agribusiness within the last 30 years, tracing the various trajectories of increasing competition and concentration and pressures on commodity prices that have resulted in increasing dispossession of smallholders and a move in some agri-food chains towards large estate production. The paper explores the ways in which contemporary agricultural policies and neoliberal market reforms reflect these developments and examines recent framing of land policies in Africa in the context of the development of agrarian capital and agribusiness. Competitiveness results in dispossession of less successful smallholders from below by commercial smallholders, and from above by large estates vertically integrated into agribusiness marketing chains. This is illustrated with examples from the cocoa sector in Côte d'Ivoire and pineapples in Ghana.