In the present study, 36 samples of pasteurised, ultra-high-temperature (UHT) treated and goat milk powder traded in the city of Campinas, Brazil, were analysed for aflatoxin M1 (AFM1), from October to December 2004 and March to May 2005. Results showed 25 (69.4%) positive samples for AFM1 at levels of 0.011–0.161 μg L−1 of milk, which were below the tolerance limit of 0.500 μg L−1 as adopted for AFM1 in milk by Brazilian regulations. Mean levels of AFM1 in pasteurised, UHT and goat milk powder were 0.072 ± 0.048, 0.058 ± 0.044 and 0.056 ± 0.031 μg L−1, respectively. It is concluded that the incidence of AFM1 in goat milk traded in Campinas is high, but at levels that probably leads to a non-significant human exposure to AFM1 by consumption of goat milks.