A bixin is an apocarotenoid which is the active ingredient of annatto - a compound formed by the removal of fragments of the carbon backbone of a carotenoid.
The major chemical compound that gives annatto its color is called "bixin". It's a carotenoid.
Annatto in the Philippines is called atsuete (Achuete, Achwete, Echuete), which is commonly used as food coloring in traditional dishes.Annatto water can be made by placing annatto seeds in water and crushing them until the water becomes red.As an additional info, this recipe may be helpful in making annatto water: see related links.