Rinse the rice. The best way to do this is to submerge the rice in a bowl of water and give it a stir. Change the water when it gets too cloudy. You may have to do this 3-4 times depending, on the brand of rice you use. Drain it by pouring the rice and water through a fine-mesh strainer.
Place the rinsed rice into the instant pot and add the milk, water, salt, cinnamon and nutmeg. Give it a stir before placing the lid on and close the vent to SEAL position.
Hit the PRESSURE COOK or MANUAL button and set the heat to medium and set the timer to 10 minutes. It will take 7 - 10 minutes to get to the proper pressure before the timer will start.
Once the timer has run out, allow the Instant Pot to do a natural release for 10 mins. After 10 mins, press CANCEL and carefully open the vent and allow any additional steam to release.
Remove the lid and stir in the sweetened condensed milk, vanilla extract and raisins.
Serve immediately, warm, and sprinkle with additional raisins and cinnamon. Enjoy!
Notes
Store leftovers in an airtight container in the fridge for up to 5 days. Reheat at 50% power in the microwave for 1 - 2 minutes. Or this can be eaten cold if you prefer.
You can freeze rice pudding, but make sure that it is room temperature or cooler before you do. Place it in an airtight container or a reclosable freezer-safe bag for up to 3 months. Thaw in the fridge overnight when you are ready to serve. If eating warm, you can warm it right from frozen to speed the process up. I like to freeze it in small individual containers and use them in lunchboxes.
Do not use instant rice for this recipe.
You can substitute other long-grain rices such as Basmati or Jasmine.
If you only have short-grain rice, it will work, but the rice will break down and the final result will be similar to porridge.
Long-Grain Brown rice can be used but will increase your cooking time and may require an extra rinse.
You can use an 8-quart Instant Pot for this recipe, but it will take longer to reach pressure.
Raisins are optional, but I find it adds flavor and texture to the pudding. You can also use candied ginger, dried cranberries or dried cherries.
This recipe was calculated using the exact brands and measurements I used to make this recipe. If you are following a strict diet please note changing anything will cause the nutritional info to change. My calculations are intended as a guide only.