Moqueca—a Brazilian-style fish stew—takes many forms throughout the South American country. This version from the Ilha de Marajó is made with firm-fleshed white fish and enriched with coconut milk and palm oil.
To a large bowl, add the fish, shrimp, lime juice, and half of the garlic. Season lightly with salt and black pepper and turn to coat. Set aside.To a large Dutch oven set over medium-high heat, add the olive oil, onions, frying pepper, and remaining garlic and cook, stirring occasionally, until beginning to brown, about 6 minutes. Add the chopped tomato and cook until softened, about 5 minutes.
Stir in the stock, coconut milk, and palm oil. When the liquid boils, add the reserved fish mixture, return to a boil, and cook until the fish is just opaque and flakes easily and the shrimp is pink and just cooked through, 5–7 minutes. Add the remaining onion, pepper, and tomato slices, then cover and cook until the vegetables have softened, about 5 minutes. Remove from heat, stir in the cilantro and basil, season to taste with salt and pepper, and serve.
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