Abstract: The present invention concerns a process for producing a dry cereal composition, comprising (a) fermenting phytic acid containing cereals by phytase-positive lactic acid bacteria at a temperature below 45° C., until a pH of at most 5.9 is reached, (b) heating the fermented cereals obtained in step (a) to a temperature in the range of 40-55° C., for a period of at least 1.5 h; (c) drying the fermented and phytase treated cereals originating from step (b) to obtain the dry cereal composition. The present invention is ideally suited to reduce the phytate content of fermented cereals, thereby increasing the bio-availability of minerals. The invention further contains the dry cereal composition obtainable by the process according to the invention, especially having a molar ratio of phytate to iron of at most 1, and the use thereof in increasing the bio-availability of minerals.