Are there issues or concerns with Monacolins in foods in Australia?

Monacolins are substances produced by moulds and yeasts as a result of starch fermentation. They are naturally present in mushrooms and formed in a widely used product called “Red Yeast Rice” which is fermented using Monascus purpureus fungus. In many Asian countries, Red Yeast Rice is used as a food preservative, flavour enhancer, and colouring agent. It has long been utilised in traditional Chinese medicine for a wide range of illness, including indigestion and blood circulation problems. Proponents claim that the same benefits of the substance derived from a different process do not change the safety aspects, while others disagree. This article considers the issues.