3/4 cup raw peanuts
3/4 cup unsweetened raw coconut flakes
2 tablespoons fish sauce
8 small dried red chiles, such as Japones or chiles de árbol, thinly sliced
1 tablespoon neutral-tasting or melted coconut oil
1 tablespoon minced lemongrass
1 teaspoon sugar
10 lime leaves, thinly sliced (optional)
Handful of Thai or Italian basil leaves
2 to 3 limes, quartered
In a medium mixing bowl, toss together peanuts, coconut flakes, fish sauce, chiles, 1 tablespoon oil, the minced lemongrass, the sugar and the lime leaves, if using.
Spread mixture out onto a baking sheet in a single layer. Bake for 18 to 20 minutes, stirring every 3 minutes after the first 10 minutes. Remove from oven when coconut is deep golden brown, and pour mixture immediately into a bowl to prevent overcooking. Stir to combine.
Thinly slice the basil leaves and arrange on a small plate or platter, along with lime wedges and peanut mixture. Use as a topping for soups (see butternut squash soup recipe) or other Thai dishes.