The most common and most likely answer to this crossword clue is the 8 letter word BONE-DRY
I've seen this crossword clue in The Times
B
O
N
E
-
D
R
Y
More clues leading to the result BONE-DRY
Buddy explains!

The straight part
We know that "parched" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case parched = bone-dry.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BONE-DRY mean?
BONE-DRY adjective- Totally dry; without moisture.