Sweet drink — price, oddly, is around tuppence (5,3)
I believe the answer is:
apple pie
'sweet' is the definition.
(I've seen this before)
'drink price oddly is around tuppence' is the wordplay.
'drink' becomes 'ale' (I've seen this before**).
'oddly' means one should take alternating letters.
'is around' indicates putting letters inside.
'tuppence' becomes 'pp'.
The alternating letters of 'price' are 'pie'.
'ale'+'pie'='alepie'
'alepie' placed around 'pp' is 'APPLE-PIE'.
(Other definitions for apple pie that I've seen before include "... typically American" , "fruit tart" , "in a virtuous form?" , "Sweet (in good order?)" , "Perfect order - bed jokily made" .)