Red Yeast Rice, or Monascus purpureus is a fermented rice product that has been used for centuries in China as a food, tonic and coloring agent. It provides the red coloring in various food preparations including pastries, pickled tofu, red rice vinegar, Peking Duck and various wines from China, Korea and Japan. Its use has been documented in traditional Chinese medicine and herbology as far back as the Tang Dynasty in China.
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Source: www.medicinenet.com/red_yeast_rice_and_cholesterol/article.htm
Also See: Monascus purpureus