If using cumin seed: In a small, dry skillet, toast seeds over medium heat for about a minute, stirring constantly, until very fragrant. Remove to a small bowl to cool slightly, then crush into a powder with a clean spice or coffee grinder, small food processor, or mortar and pestle.
Combine cumin with all other ingredients in a small saucepan, whisking until smooth. Bring to a simmer over medium heat and allow to cook for 5 minutes, stirring periodically. Allow to cool, transfer to an airtight container, and refrigerate until ready to use. If glazing/basting something directly on a grill, thin out the sauce with water first to prevent the sugars from burning (about a 1:1 ratio works well); pass undiluted sauce on the side.
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