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For the plums: Preheat oven to 350 degrees and line a baking sheet with parchment paper. Place plums fresh side down on prepared baking sheet and sprinkle with allspice, rose water, agave, brown sugar, and molasses. Add start anise and cinnamon sticks to the pan along with 2 Tbsp water (to keep the fruit from sticking). Roast for 30 minutes or until the plums are soft all the way through. Remove from oven and set aside to cool slightly.
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For the polenta: Fill a saucepan with the remaining water and polenta. Bring to a boil, whisking often, and then reduce heat to medium-low. Let polenta cook at a gentle simmer until thickened, about 5 minutes.
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Add the milk, agave, and vanilla extract and continue to simmer for another 5 minutes, whisking constantly. Remove from heat.
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Divide evenly between bowls, top with warm plums, and sprinkle with pistachios. Serve warm.