Fried food waste (7)
I believe the answer is:
fritter
I believe this clue is a double definition.
'fried food' is the first definition.
'waste' is the second definition.
(I know that fritter is a more specific form of the action waste)
(Other definitions for fritter that I've seen before include "Squander - fried dish" , "Deep fried item" , "blow" , "Battered item" , "Spend money frivolously" .)