Source: seed-hungarian
Heat oil in a large heavy-bottomed pot or Dutch oven over medium-high heat and fry the sliced onions until softened and golden, about 8 minutes. Add the sweet and hot paprika powders immediately, stirring constantly for 1 minute to bloom the spices, then add the beef cubes and brown them on all sides for 5-7 minutes. Stir in the tomato puree and deglaze with the beef stock, scraping up any caramelised bits from the bottom of the pot. Add the bay leaves and caraway seeds, then reduce heat to low, cover, and simmer gently for 1 hour until the beef is tender. Add the potatoes and red peppers, season with salt and pepper, and continue simmering uncovered for another 30-40 minutes until the vegetables are cooked through and the sauce has reduced and thickened. The finished pörkölt should have a rich, glossy sauce and tender meat; taste and adjust seasoning as needed before serving.
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