A nestable and stackable food storage container has a base with a bottom panel. The bottom panel has an upper side, a lower side, and a base perimeter. The base also has a cylindrical side wall extending generally upward from and around the base perimeter. The side wall terminates at a top edge and defines an open top. A lid has a top panel with a top side, a bottom side, and a lid perimeter. A nesting structure is provided at least in part on a portion of the base and at least in part on a portion of the lid. The nesting structure permits removably nesting the lower side of the base with the lid in either a standard lid orientation or an inverted lid orientation.