Reportedly, fruit existing (7)
I believe the answer is:
current
'existing' is the definition.
(thesaurus)
'reportedly fruit' is the wordplay.
'reportedly' indicates a 'sounds like' (homophone) clue.
'fruit' becomes 'currant' (currant is a kind of fruit).
'currant' sounds like 'CURRENT'.
(Other definitions for current that I've seen before include "In vogue" , "Up-to-date" , "Flow, of a river say" , "Happening now" , "Contemporary" .)