Since phytate was first identified as a naturally-occurring organic compound found in all plant life, phytate has been badly maligned. Most studies concentrated on its mineral-binding capacity which may result in marginal or frank mineral deficiencies in animals and humans. Currently, there is evidence that dietary phytate may have beneficial effects, Positive effects against carcinogenesis have been shown with in vitro cell culture systems, in mice, rats and guinea pigs, but the mechanism of action is not understood. Additional foods have been analyzed for phytate content, albeit by methodology which does not differentiate between phytate and it's hydrolysis products. Analytical methodology is now available which provides precise estimates of phytate and inositol phosphate hydrolysis products in foods thereby making possible a database from which more precise estimates of the extent to which mineral homeostasis may be compromised. Microbial phytase preparations are being studied as a means of improving the utilization of dietary phytate phosphorus, decreasing the need for inorganic phosphorus supplements in animal feeds and, in turn, lessen the environmental impact of phosphorus in excreta from animal feeding operations. Thus, there is a strong impetus to continue the study of this naturally-occurring molecule and what we learn through further study will hopefully improve the quality of life.