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As Halloween approaches, companies facing high cocoa costs have had to hike their prices, reformulate and even resort to “shrinkflation”. There is also a “strategic shift” to gummies, licorice and flavored crèmes, experts say. Mike von Massow, a food economist at the University of Guelph, says if not chocolate, candy companies need something that customers can choose – or else they will lose out on the Halloween business.