Above Food Ingredients Inc. shares rise 8.87% premarket after Olam Group's food ingredients division reported a near seven-fold jump in first-half earnings.

Above Food Ingredients Inc. rose 8.87% in premarket trading, with the company's stock price likely influenced by the strong performance of Olam Group's food ingredients division. Olam Group reported a near seven-fold jump in first-half earnings, driven by higher average sales prices in its food ingredients division. Additionally, Olam Group is planning to demerge and list its food ingredients business, Ofi, which could further boost investor confidence in Above Food Ingredients Inc.