In the paper by Kliem, Karlický, and Benz (Astron. Astrophys. 360, 715, 2000) it was suggested, that plasmoids formed during the bursty regime of solar flare reconnection can be “visualised” in the radio spectra as drifting pulsating structures via accelerated particles trapped inside the plasmoid. In the present paper we investigate this idea in detail. First, simple statistical analysis supporting this hypothesis is presented. Then, by using the 2.5-D MHD (including gravity) model solar flare reconnection in the inhomogeneous, stratified atmosphere is simulated and the formation and subsequent ejection of the plasmoid is demonstrated. The ejected plasmoid, which is considered to be a trap for accelerated electrons, is traced and its plasma parameters are computed. To estimate the associated plasma radio emission we need to know locations of accelerated electrons and corresponding plasma frequencies. General considerations predict that these electrons should be distributed mainly along the magnetic separatrix surfaces and this was confirmed by using a particle-in-cell simulation. Finally, under some simplifying assumptions the model dynamic radio spectrum is constructed. The relation between the global frequency drift and the plasmoid motion in the inhomogeneous ambient atmosphere is studied. The results are discussed with respect to the observed drifting pulsation structures and their possible utilisation for flare magnetic field diagnostics.