Post-harvest losses caused by stored product pests are posing serious threats to global food security and safety. Among the storage pests, psocids were ignored in the past due to unavailability of the significant evidence regarding quantitative and qualitative losses caused by them. Their economic importance has been recognized by many researchers around the globe since the last few years. The published reports suggest that the pest be recognized as a new risk for global food security and safety. Psocids have been found infesting stored grains in the USA, Australia, UK, Brazil, Indonesia, China, India and Pakistan. About sixteen species of psocids have been identified and listed as pests of stored grains. Psocids generally prefer infested kernels having some fungal growth, but are capable of excavating the soft endosperm of damaged or cracked uninfected grains. Economic losses due to their feeding are directly proportional to the intensity of infestation and their population. The pest has also been reported to cause health problems in humans. Keeping the economic importance of psocids in view, their phylogeny, distribution, bio-ecology, management and pest status have been reviewed in this paper.