Piquillo peppers were a good upgrade, but regular ones are perfectly fine, less expensive and easier to find.
Ingredients
1 large roasted red bell pepper (90 g) from a jar.
1 garlic clove, smashed
1/2 c (78 g/2.7 oz) almonds, blanched and toasted (optional)
1/4 c (31 g) tomato paste
2 tbsp chopped Italian (flat leaf) parsley
2 tbsp sherry vinegar, good quality if possible
1 tsp smoked paprika
1/8 tsp cayenne pepper
1/4 c olive oil
Salt
Freshly ground pepper
Directions
If toasting almonds, preheat oven to 350° F. Spread almonds in a single layer and bake for 10-15 minutes. After the first 3 minutes, check every minute. Remove from oven and let cool completely.
In the food processor, add almonds first and pulse until finely grounds. Mix together the next 7 ingredients until finely chopped. While running, slowly add oil and process until smooth. Season with salt and pepper, to taste.
It makes about 1 1/8 cup / 275 g. This was based on the original 1/2 cup of olive olive and will be different with 1/4 c of oil. Freeze what’s left in teaspoon size dollops.