In a medium saucepan over medium high heat add the olive oil and the onions. Cook for about 3 to 4 minutes, or until the onions just begin to soften.
Add the rice. Stir to coat. Add the turmeric, cumin, salt and pepper. Stir just to combine and get the spices slightly toasted.
Add the water and cover. Increase the heat to high and bring the water to a boil. Immediately reduce to low and simmer, covered, for 20 minutes.
Remove from the heat and allow the rice to sit for about 3 to 5 minutes.
Drizzle with a bit of fruity extra virgin olive oil before serving.