An aqueous formulation comprising edible fungal particles especially consisting substantially of fungal mycelia is described. The ingredient maybe combined with other ingredients to produce a wide range of foodstuffs or food ingredients including desserts (e.g. yogurt), reconstitutable drinks or soup and extruded foodstuffs (e.g. savory snack foods). Foodstuffs prepared may have medical applications (e.g. for treatment of joint mobility disorders, reducing fat uptake, lowering cholesterol, immune function stimulation, use on a pre-biotic and/or for affecting satiety).