Most of the gains, Mr Fogel reckons, were passed on to consumers in Europe (and England in particular) in the form of cheap cotton and tobacco.

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Unless cotton prices fall, many of the apparel retailers in the U.S. are expected to pass the increased cotton costs on to consumers in the form of higher retail prices.

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They settled on a cotton-modal blend (modal is a form of rayon) that offered a soft feel, attractive drape and absorbed color well.

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