Soak the bread in water for 10-15 minutes.
Squeeze out as much of the water as possible.
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Add to a food processor the tarama, bread, onion, garlic, ground pepper and lemon juice. Mix everything well together.
Add the oil little by little in a thin stream while you continue blending.
Taramasalata is ready when you have a smooth, airy texture.
Serve it with some bread slices or pita bread, or as part of a meze platter.