UPDATE 3-MIDEAST STOCKS-Egypt slips as sugar protectionism may hurt food makers

April 19, 2015 9:38 AM

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DUBAI, April 19 (Reuters) - Egypt's main stock index slipped in early trade on Sunday, partly because of Juhayna Food Industries, which may face higher costs. But most stocks rose and El Arabia For Investment & Development surged after saying it might sell a unit.

The Cairo index inched down 0.2 percent as Juhayna tumbled 5.4 percent. Egypt is considering a 20 percent tariff on white sugar imports as it bolsters its own sugar industry with a subsidised export push, a ministerial statement and a filing at the World Trade Organization said on Thursday.

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