Organic waste could be converted into compost and used as fertilizer. Some agricultural waste products of yesteryear are now bye-products that are put to various uses.
hmm interesting question. I had internship with packinghouse which produce fresh vegetables and distributing them to supermarket. There was grading system, e.g Grade A and the second which is not meet standard is called Grade B or sometimes they called it "Reject" or "BS (Below Standard)". They processed it into vegetable minimally processed. I'd hope it would help :)