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Sauce: Combine all ingredients in a small pot, then heat and stir until well combined. Adjust consistency with water if needed. Avoid overheating the dip, otherwise the coconut fat will separate out.
Notes: Dried coconut milk works well because it lets you easily thicken the sauce if needed. For rice paper, prefer ones from an asian grocery store - Bamboo Tree brand (Bánh Tráng Mỹ Tho) works well.