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1. Thaw shrimp, if frozen. Peel and devein shrimp. Cook shrimp in lightly salted boiling water for 1 to 3 minutes or until shrimp turn opaque, stirring occasionally. Rinse in a colander under cold running water; drain. Chill for 2 hours or overnight.
2. For sauce, in a screw-top jar combine ketchup, orange juice, salad oil, horseradish, salt, and cayenne pepper. Cover and shake well. Refrigerate until serving time.
3. Serve shrimp with sauce.
4. Makes 8 to 10 appetizer servings.