Rice Pudding with Apricot Preserves

Preheat the oven to 325°. Bring a medium saucepan of water to a boil. Stir in the rice and simmer for 5 minutes. Remove from the heat and let stand for 5 minutes. Drain the rice and rinse under cold water, then drain again.

In a 2-quart ovenproof baking dish, mix the rice with the milk, cream and sugar. Bake for about 1 hour and 45 minutes, stirring every 30 minutes, until the rice is tender and the pudding has thickened. Let the pudding cool on a rack for 10 minutes, then fold in the sweetened condensed milk. Serve the rice pudding with demerara sugar, apricot preserves and dried apricots.