In a medium saucepan, combine jasmine rice, coconut milk, and water. Bring to a boil, then cover and simmer for 15-20 minutes until fluffy.

Heat coconut oil in a skillet over medium heat. Add onion and sauté for 3-4 minutes until translucent.

Add garlic, green bell pepper, and red bell pepper to the skillet. Cook for 5-6 minutes until the peppers soften.

Stir in black pepper, salt, turmeric, and red pepper flakes. Cook for another minute.

Fold the cooked rice into the vegetable mixture and heat gently for 2-3 minutes.

Garnish with coriander leaves and serve with lime wedges.