Heat a large fry pan over medium high heat. Add olive oil and heat for 20 seconds until shimmering. Add onions and season with salt and pepper. Saute for 5-7 minutes until onions start to soften. Cover pan and reduce heat to low. Cook for 45-60 minutes, stirring occasionally, until onions are golden.

While onions are caramelising, place pre-soaked cashews, water, lemon juice and a pinch of salt into a blender. Blend, stopping to scrape down the sides as needed until is reaches the consistency of yogurt or sour cream. If mixture is too thick add a little more water. Add roasted carrots, caramelised onions (leaving a few tablespoons aside for presentation) and a pinch of nutmeg). Blend again until very smooth.  You can add a small amount of flavourless oil like sunflower or peanut oil to the blending to get an even smoother texture.

Transfer to a serving bowl. Top the dip with the reserved onions, a sprinkle of freshly grated nutmeg and freshly ground black pepper. Serve with crackers.