The British East India Company was the largest purchaser of tea in the world, and it had a monopoly on the tea trade between China and Europe. This gave the British East India Company a great deal of power, and it was able to dictate the terms of trade. The company often paid for tea in silver, and it also used tea as a form of payment for other goods and services.
The British East India Company's monopoly on the tea trade was eventually broken in the 1830s, when the British Parliament passed the Tea Act of 1833. This act ended the company's monopoly and allowed other companies to import tea into Britain. The Tea Act also reduced the duty on tea, making it more affordable for the average person.
As a result of the Tea Act, the price of tea in Britain dropped dramatically, and tea became a popular beverage for all social classes. The consumption of tea in Britain increased rapidly, and by the end of the 19th century, it had become the national drink.