1/4 cup extra-virgin olive oil
1 3/4 cups chopped red onion
1 large beet or 2 small beets, peeled, cut into 1/4-inch cubes
1/2 cup water
1/2 cup red wine vinegar
3 tablespoons raisins
3 tablespoons sugar
2 teaspoons chopped, peeled, fresh ginger
1 teaspoon yellow mustard seeds
Pinch of cumin seeds
Heat olive oil in heavy medium saucepan over medium heat. Add chopped red onion and beet cubes. Cook until onion is tender but not brown, stirring frequently, about 8 minutes. Add 1/2 cup water. Increase heat to high and boil until mixture is thick, about 5 minutes. Add vinegar, raisins, sugar, ginger, mustard seeds, and a pinch of cumin seeds. Reduce heat to medium-low and simmer until beet cubes are tender and chutney is thick, stirring often, about 8 minutes. Season to taste with salt and pepper. Cool.