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Cut off the stems of the dried chile peppers and discard. Then slice length-wise down the chile pepper and remove the seeds and any prominent membrane. Place in a heat-proof bowl.
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Pour boiling water over the dried chile peppers, enough to submerge them completely (I like to place a heavy-ish plate on them to hold them down). Leave them soaking for 20 minutes.
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If you are using a regular food processor (see my links above regarding making paste with processor versus powerful wet dry grinder), use this time to pound the lemongrass with a heavy mortar and pestle and break down those fibers. After some time, add the ginger and pound it as well.
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Place the coriander seeds in a small, dry skillet. Toast over medium heat. After 1-2 minutes, add the cumin seeds. When the spices are fragrant, another 1-2 minutes, pour them into a spice grinder or the wet dry grinder. Whichever implement you use, they first need to cool down a bit so set that aside.
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Place the shrimp paste in a small square of foil. Fold the foil over the paste on all 4 sides, and then place in that same skillet over medium heat. Toast for 2 1/2 minutes on each side, and then remove to let cool.
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By now the spices should be cool enough to grind. Whichever machine you are using, grind them until fine.
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Place the rehydrated chile peppers in the processor or wet dry grinder. Reserve the soaking water--you can use it to loosen the blades anytime.
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Process/puree the chile peppers. If you used a spice grinder, add the ground coriander and cumin. Process (or puree) again. Add the lemongrass and ginger--pounded if you are using a food processor but unpounded if you are using a wet dry grinder. Puree smooth.
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During this process, if the machine heats up, take a break and let it cool. You do not want it to cook the paste. Also, regularly scrape the sides of the machine.
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Add the remaining ingredients. Process or puree smooth again. Remember you can add some chile pepper soaking water if you need to.
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Pinch a tiny amount of the paste and rub between your fingers. If it is gritty, puree some more. Repeat until it is mostly smooth.
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Set aside to use or freeze for later use.