Chocolate, Meet Choco-Luxe

How high-end start-ups and far-out flavors are upgrading America's favorite candy

Amano sells dark chocolate made from Balinese cacao at $20 per lb.

Chocolate is getting a makeover. With the commodity price of cocoa nearly doubling over the past year, Hershey's and Mars--which claim two-thirds of the U.S. chocolate market--have shifted focus from mass-market bars to upscale gourmet in order to shore up profit margins. That's bitter news for some: to cut costs, Hershey's recently replaced cocoa butter with vegetable oil in several products, which is why the labels on Mr. Goodbar, Milk Duds and Krackel now have to say things like "chocolatey" instead of "milk chocolate." But even as the king of American candy cheapens its low-end stuff, Hershey's--which saw its quarterly profit...

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