Mycotoxins are naturally occurring toxins produced by certain moulds (fungi) and can be found in food. The moulds grow on a variety of different crops and foodstuffs including cereals, nuts, spices, dried fruits, apples and coffee beans, often under warm and humid conditions. Mycotoxins can cause a variety of adverse health effects and pose a serious health threat to both humans and livestock. The adverse health effects of mycotoxins range from acute poisoning to long-term effects such as immune deficiency and cancer. The economic impacts of mycotoxins to human society can be thought of in two ways: (i) the direct market costs associated with lost trade or reduced revenues due to contaminated food or feed, and (ii) the human health losses from adverse effects associated with mycotoxin consumption. This article is an effort to highlight different features of Mycotoxins and their economic impacts so that bad impacts of Mycotoxins can be minimised.