In a saucepan heat oil on medium heat, and saute shallots until translucent.
Rinse the rice in a strainer until the water runs mostly clear. Add in the rice and stir to combine.
Next, add the water, coconut milk, salt and turmeric and stir.
Turn the heat to high and bring to a boil.
Turn heat down to medium-low and cover.
Cook covered for about 20 minutes.
Fluff rice, and transfer to a bowl.
Top with cashews, and cilantro.