Nestle expects below-target sales growth again in 2014

Nestle's headquarters in Vevey, Switzerland. The company expects another challenging year after price pressures in Europe and weaker emerging market demand slowed sales growth to 4.6% in 2013 - EPA Photo.

VEVEY: Nestle expects another challenging year that could see it undershoot its long-term targets again, after price pressures in Europe and weaker emerging market demand slowed sales growth to 4.6% in 2013.

Food companies face slowing demand both in emerging markets, where economies are losing steam, and in austerity-hit Europe where consumers are tightening their belts.