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Rinse the rice until water turns clear. Then drain the water and let the rice dry.
Press the saute button on your Instant Pot. Once it displays hot, add oil to the pot. Then add the rice and cook for 4 to 5 minutes until toasty.
Add the bell pepper, jalapeno, onion, garlic and saute for 1 minute.
Add the cumin, salt and saute for 30 seconds.
Now add the water and stir to deglaze the pot (there shouldn't be anything sticking to the bottom).
Add the canned crushed tomatoes on top. Do NOT STIR.
Close the pot with its lid. Press the manual or pressure cook button and cook on high pressure for 5 minutes. The pressure valve should be in the sealing position.
Let the pressure release naturally for 2 minutes and then do a quick pressure release.
Open the pot, now carefully stir the tomato with the rice using a spoon. Cover pot with a glass lid, let it remain like that for 2 minutes.
Remove the lid and add the cilantro. Fluff the rice with a fork. You may squeeze in some fresh lime juice.
Serve Mexican Rice as a side or with beans or inside tacos, burritos!