The Elmore Field Days will not go ahead in October after the committee decided the COVID-19 pandemic was too much of a risk for patrons.
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Field Days president Derek Shotton said there were many reasons this year's event shouldn't go ahead.
He said the committee left the decision to cancel as late as possible with the hope that the COVID-19 situation might have eased.
Ultimately, government restrictions, the uncertainty around running events and the current outbreaks made the decision was clear.
"Whilst it is disappointing we can't run this year, there are two major risks we can't take as a community," he said.
"One is the ramifications it would have on the community if the field days goes broke if we committed to run - costing a massive amount of money - then were forced to cancel at the last minute.
"The second is that if we ran and it caused an outbreak in our community."
This year would have been the 57th year of the Elmore Field Days. It is the first time the event has been cancelled since it began in 1964.
Previously, one day was cancelled due to flooding in 1975.
The annual agricultural event attracts exhibitors from all over the country as well as from overseas.
"We hope that everyone continues to stay safe and well. We plan to be back bigger and better on 5th, 6th & 7th October 2021," Mr Shotton said.