Food is one of the four necessities of life; the other three are clothing, shelter and medicine. For monks in the Theravada tradition, food intake is limited to the hours between dawn and noon. The practice of not eating in the afternoon is a very old tradition and is also observed by the samanera (novice who has taken the Ten Precepts), the dasasila mata nun (ordained Buddhist nun who has taken the Ten Precepts) and the lay devotee who has taken the eight precepts.
Eating one meal a day is a Pratimoksha vow and is part of the training of the monk. Sometimes the food received during the alms round is meagre. This has the benefit of training the monk to be grateful for whatever is given by lay people and not be attached to food because a bhikkhu's life is supposed to be simple. This is why the Buddha laid down rules regarding "edibles": "There are these finer staple foods, i.e. ghee, fresh butter, oil. honey, sugar/molasses, fish, meat, fresh milk, and curds. Should any bhikkhu who is not ill, having asked for finer staple foods such as these for his own sake, then eat them, it is [an offence of Confession]".