Reportedly ranks popular fruit (7)
I believe the answer is:
rosehip
'fruit' is the definition.
(fruit of a rose plant)
'reportedly ranks popular' is the wordplay.
'reportedly' shows a homophone (sound like).
'ranks' becomes 'rows' (rank can mean a row or line of things).
'popular' becomes 'hip' (hip can mean trendy or popular).
'rows' sounds like 'rose'.
'rose'+'hip'='ROSEHIP'
(Other definitions for rosehip that I've seen before include "Wayside fruit" , "Fruit of a popular flower" , "Wild fruit for syrup" , "Part of plant" , "Hedgerow or garden fruit" .)