Food security is becoming an increasingly important issue worldwide, and in this respect, urban agriculture has a substantial role. Nonetheless, pressure for agricultural land conversion and fragmentation is highest in peri-urban areas. In order to respond to these challenges, urban farmers use different adaptation strategies and business models, including product differentiation based on geographical indications (GIs). The paper considers land take (LT) issues in Futog, the settlement of the City of Novi Sad, registered as the GI of Futog cabbage, as an illustrative example which reflects the attitude of land use policy and planning in Serbia towards the specific conditions and requirements that growers of GIs have to meet. The purpose of this study is to identify the role of urban land use planning within LT processes and the implications this has on urban agriculture, accordingly. The supporting framework used for quantifying LT in the period 2000–2018 was CORINE Land Cover (CLC), specifically Urban Atlas (UA) datasets for two time series between 2012 and 2018. Since a significant part of agricultural land registered as a GI in Futog was planned for conversion into construction land, the authors conclude that current forms of land use planning in Serbia are not adequate to ensure the protection of either urban agriculture or GIs. Given that there is a clear correlation between GI products and their place of origin, this study recognized the necessary inclusion of all protected agricultural areas, as well as areas with GIs, into legislation binding for land use planning in Serbia, with limitations in terms of new LT.