Fine food, reportedly (4)
I believe the answer is:
fair
'fine' is the definition.
(I've seen this before)
'food reportedly' is the wordplay.
'food' becomes 'fare' (fare is a kind of food).
'reportedly' shows a homophone (sound like).
'fare' is a homophone of 'FAIR'.
(Other definitions for fair that I've seen before include "(Of weather) fine and dry" , "Just - blonde - outdoor entertainment" , "Reasonable - market" , "light headed" , "Equitable; expo" .)