In food processor or blender, process onion, peppers, garlic, tomato paste, 1/4 cup water and salt until smooth; set aside.
In 12-inch skillet, melt Shedd's Spread Country Crock® Spread over medium-high heat and cook rice, stirring occasionally, 2 minutes or until golden. Stir in remaining 2-1/4 cups water, peas and carrots and onion mixture. Bring to a boil over high heat. Reduce heat to low and simmer covered 20 minutes or until rice is tender. Let stand 5 minutes before serving. Season, if desired, with salt and pepper.
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