This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
餢 combines the food radical 飠 with 咅, but the exact historical development and original meaning are uncertain.
The food radical 飠 suggests something related to eating, but the right side 咅 does not give a clear clue. Think of it as an obscure food-related kanji whose meaning is lost.
For ホウ, imagine a hollow pastry (ホウ sounds like 'hoe') that looks like the kanji: the food radical 飠 is the crust, and 咅 is the filling. Hollow pastry -> ホウ.