Preheat oven to 300 degrees F. Cook carrots, raisins, honey, margarine and spices in the water for 10 minutes, then allow to cool.

Mix together the flour, baking soda, wheat germ, and walnuts and combine with the other ingredients. Pour into two small well-greased loaf pans. Bake for 45 minutes.

Courtesy of the National Honey Board