The most common and most likely answer to this crossword clue is the 8 letter word MUNCHING
I've seen this crossword clue in Financial Times
M
U
N
C
H
I
N
G
Buddy explains!
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 MUNCHING mean?
MUNCHING verb- To chew with a grinding, crunching sound, and with the mouth closed — often used with on.
- To eat vigorously or with excitement.
- The sound or action of one who munches.