Melt butter in heavy large pot over medium heat. Add onion and bell peppers and sauté until tender, about 12 minutes. Add rice, cumin and chili powder; stir 1 minute. Add broth and bring to boil, stirring occasionally. Cover pot. Reduce heat to medium-low and simmer until rice si tender and broth is absorbed, about 25 minutes. Season pilaf to taste with salt and pepper. Sprinkle with cilantro and serve.
