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In a large bowl, beat butter with an electric mixer on medium to high speed for 30 seconds. Add granulated sugar, baking powder, baking soda, and salt. Beat until combined, scraping the sides of the bowl occasionally. Beat in egg, vanilla, and almond extract. Beat in as much of the flour as you can with the mixer. Stir in any remaining flour, the cranberries, pistachio nuts, and apricots. Cover and chill dough about 2 hours or until easy to handle.
Preheat oven to 350°F. Lightly grease a cookie sheet; set aside. Divide dough in half. Shape each portion into a 12-inch-long loaf. Place loaves about 3 inches apart on prepared cookie sheet; flatten slightly until about 3/4 inch thick. If desired, brush with a little milk and sprinkle with coarse sugar.
Bake for 25 to 30 minutes or until lightly browned and a toothpick inserted near the centers comes out clean. Cool on cookie sheet for 1 hour.
Preheat oven to 325°F. Using a serrated knife, cut each loaf diagonally into 1/2-inch-thick slices. Place slices on an ungreased cookie sheet. Bake for 6 minutes. Turn biscotti over; bake for 6 to 8 minutes more or until biscotti are dry and crisp. Transfer to a wire rack; cool.
If desired, in a small saucepan, heat and stir white chocolate and shortening over low heat until melted; cool slightly. Drizzle biscotti with melted white chocolate. Let stand until white chocolate is set.