Rinse rice several times and drain. In 3-quart pan, heat oil over medium-high heat. Add onions, caraway and cinnamon. Sauté, stirring, until onions are soft, about 3 minutes. Stir in the rice and sauté for an additional minute, add stock and water, bring mixture to a boil. Reduce heat and simmer, covered, 30-40 minutes, or until rice is tender and liquid is absorbed. Fluff the rice with fork, remove cinnamon stick and serve immediately.