Heat the olive oil in a large pot on medium heat. Add the chopped white onion and cook for about 3 minutes or until it's translucent. Then, add the green onion and chopped garlic and cook for 1-2 minutes. Now, add the chopped tomatoes and cook for 5-8 minutes or until they are soft.
Pour in the water, add the beef bouillon, food color, ground cumin, salt and pepper to taste. Cover the pot and bring it to a boil on high heat.
Once the water is boiling, add the chopped carrot, green peas, rice and meatballs. Cover the pot again and simmer on medium low heat for 20 minutes or until the rice is done. Check the seasoning and add more salt if needed. Serve immediately with chopped cilantro, white rice and a slice of avocado.