The physiological behaviour of several edible and medicinal fungi, grown basically in liquid cultures, was investigated. Specifically, the production of mycelial mass, the substrate consumption, the accumulation and (in some cases) the degradation of intracellular compounds like polysaccharides and lipids, as well as the secretion of exopolysaccharides (EPS) was studied, with special attention given in the macromycetous Volvariella volvacea. Intensive literature survey showed relative lack of comparative data on the physiological behaviour and biosynthetic capacity of edible and medicinal fungi in liquid synthetic culture media. Initially, 9 basidiomycetes (Ganoderma lucidum, G. applanatum, Auricularia auricula-judae, Lentinula edodes, Flam...