Quite good food, reportedly (4)
I believe the answer is:
fair
'quite good' is the definition.
(fair can mean of decent quality)
'food reportedly' is the wordplay.
'food' becomes 'fare' (fare is a kind of food).
'reportedly' indicates a 'sounds like' (homophone) clue.
'fare' is a homophone of 'FAIR'.
(Other definitions for fair that I've seen before include "Unbiased; carnival" , "Treating people equally" , "promotional exhibition" , "Moderately good; blonde" , "Where the helter-skelter may be" .)