Fruit — penny off, the whole lot (4)

I believe the answer is:

each

'the whole lot' is the definition.
(each and every one)

I don't understand the remainder of the clue.

(Other definitions for each that I've seen before include "Every one of a number" , "...per head" , "Every - apiece" , "Everyone separately" , "Ache (anag.)" .)

I've seen this clue in The Times.

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