1. Heat a large sauté pan and bring olive oil to smoke point
2. Add the diced onion and minced garlic to hot oil and sauté for 5 minutes
3. Add the red and green bell peppers and continue to sauté for 5 minutes
4. Add the dried parsley, oregano, thyme, and bay leaves, cumin and hot smoked paprika and continue to sauté until the onions are translucent and begin to caramelize, about 2-3 minutes
   
5. Add white wine to sauté pan, deglaze, and cook for additional 1-2 minutes to cook off alcohol
6. Add vegetable stock, saffron stigmas, and granulated sugar and lower heat to medium
7. Simmer sofrito, about 7-10 minutes on medium heat. Increase heat briefly until most of the liquid has reduced and cooked off
8. Transfer to a smaller dish and allow to cool. Use as a base for soups and stews
   

Note - Lasts 6-7 days refrigerated. This sofrito is the base of Paella Valenciana