It was the seat of the municipality of Elimeia and it is famous globally for the production of high-quality saffron.

[1] The town of Krokos is renowned in Greece and abroad for the production of saffron, which is one of the world's most intense and valuable varieties.

Although the ancient Minoans were known to cultivate saffron during Late Bronze Age Crete, the cultivation of the plant disappeared from Greece until the 17th century, when Greek traders brought the plant from Austria to the region of Kozani.

Annual production, depending on weather conditions, ranges from 6 to 12 tons of pure red saffron each year.

[3] Greek Red Saffron, as provided by the Kozani Cooperative, has a guaranteed coloring strength of 230.