Waste product of kitchen (7)

I believe the answer is:

fritter

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'waste' is the definition.
(frittering is a kind of wasting)

I don't understand how the rest of the clue works.

(Other definitions for fritter that I've seen before include "Food fried in batter" , "bit of batter" , "Battered food - waste" , "Deep fried item" , "blow" .)

I've seen this clue in The Times.

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