Technical Abstract: Mycotoxin contamination in certain agricultural commodities has been a serious concern for human and animal health. Mycotoxins are substances produced mostly as secondary metabolites by filamentous fungi that grow on seeds, grains and feed in the field, or in storage. The major mycotoxin producing fungi are species of Aspergillus, Fusarium and Penicillium. Aflatoxins, fumonisins, trichothecenes, ochratoxins, cyclopiazonic acid, patulin, deoxynivalenol, zearalenone, citrinin, gliotoxin and sterigmatocystin are some of the important mycotoxins. This paper reviews the mycotoxigenic fungi, levels of mycotoxins and their management by using botanicals, microbiologicals and cooking methods in rice. The data from detailed investigations on rice seeds and grains help to provide safe grains for consumption and export, and prioritize future research programs.