The global coffee trade is recovering. Global coffee exports climbed 17% in January vs. a year earlier, up from 4% in December and three down months before that. A bumper harvest in Vietnam has led to 53% jump in peak-season shipments. U.S. imports climbed 10% in January, significantly outperforming shipments of tea which dropped for a sixth straight month by 2%. While that indicates a decline in taste for tea, at just 8% of coffee imports it was hardly a significant competitor to begin with.