Chocolate-Hazelnut Spread (Nutella)

1/3 cup hazelnuts with skins on
3/4 cup sweetened condensed milk
1/2 cup semisweet chocolate chips
3 tablespoons honey

Heat oven to 400 degrees F. Place hazelnuts in a single layer on a shallow baking pan. Toast until the skins are almost black, about 15 minutes.

Wrap hot hazelnuts in a clean kitchen towel, and rub until most of the skins have come off. Discard skins.

Process nuts in the bowl of a food processor, scraping down sides of bowl occasionally, until they have liquefied, about 5 minutes. Set the hazelnuts aside.

Combine the condensed milk, chocolate chips, and honey in a heatproof bowl or the top of a double boiler; set over a pan of simmering water. Stirring occasionally, heat until the chocolate chips have melted, about 3 minutes.

Add the hot chocolate mixture to the liquefied hazelnuts, and process until the mixture is smooth, about 5 minutes. Transfer the spread to an airtight container, and store, refrigerated, up to 1 month.