The most common and most likely answer to this crossword clue is the 9 letter word JAMBOREES
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Buddy explains!
The straight part
We know that "junkets" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case junkets = jamborees.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 JAMBOREES mean?
JAMBOREES noun- A boisterous or lavish celebration or party.
- A frolic or spree.
- A large rally of Scouts or Guides.
- In euchre: an undefeatable hand containing the five highest cards.