Step 1

In a 3-quart pot, combine the vinegar, bay leaves, coriander seeds, fennel seeds, cinnamon, and 1 tsp. salt; bring to a simmer over medium-high heat. Remove from the heat, cover the pot, and let sit for 15 minutes for the flavors to develop.

Step 2

Meanwhile, heat the oil in a 10-inch skillet over medium heat. Add the shallots, mustard seeds, and red pepper flakes and cook, stirring, until softened, about 5 minutes.

Step 3

Stir the shallot mixture and the honey into the vinegar and bring to a simmer. Cover and simmer for about 5 minutes to combine the flavors. Remove the bay leaves and cinnamon stick. Add the rhubarb and raisins and stir to combine. Cover and cook over low heat, without stirring, until the rhubarb is tender and starting to fall apart, about 10 minutes. Season to taste with salt and black pepper. Transfer to a serving dish and cool to room temperature. The chutney will keep, covered and refrigerated, for 2 weeks. Serve cool or at room temperature.