The Chief Executive of the East of England Agricultural Society Jeremy Staples says it was "big and bold" decision to scrap the East of England Show.
The three-day event was already expected to be heavily reformed after losses in 2012 ran into "several hundred thousand pounds".
But now the show has been scrapped after running in some form for 200 years.
Mr Staples told ITV News Anglia: "The show was not proving attractive to what the public wanted in sufficient numbers to make it financially viable."
The showground in Peterborough will continue to operate and still has a calendar of events and shows scheduled over the next few months.
After months of review and speculation the East of England Show has been cancelled following a history of 200 years.
The three-day agricultural show which is held in Peterborough has been suffering from falling attendances and financial losses. In June 2012, the show was badly hit by the weather.
The show will be replaced by a series of smaller events.
The cereal company Weetabix, based in Northamptonshire, has had to halt production on some products, after last year's poor wheat harvest.Read the full story ›
After a year of drought followed by flooding, farmers could look increasingly to science and technology for help in tackling changing weather patterns.
That's the message from this year's Norfolk Farming Conference which is taking place at the John Innes centre in Norwich.
With rising food costs and a growing population the industry is pushing for solutions, like GM crops, developed and grown in the ITV Anglia region.
The price of farmland in the East of England has reached record levels according to a new survey out today.
The Royal Institute of Chartered Surveyors says the average price of an acre of arable land is now more than £7,000.
The report's authors say demand for farmland continues to rise and they suspect prices will continue to climb in 2013.
Producers look to increase yeildsRead the full story ›
Animal rights protestors are celebrating after the owners of the Port of Ipswich decided to suspend the export of live animals until further notice.
It comes just a week after the first shipment of live sheep from there since 2007 took place but campaigners against the practice remain concerned about where it will happen next.
Live animal exports have been suspended from the port of Ipswich. The owner of the Suffolk port made the decision after lorries full of livestock arrived at Ipswich for the first time in five years on Friday 20 September.
The trade had earlier been banned in Kent following the death of more than 40 sheep
The owners of Ipswich port have said they'll suspend the live transport of animals to Europe.
Lorries full of livestock arrived at the Suffolk port last Friday under police escort after the practice had been banned in Kent following the death of more than 40 sheep.
It was the first time in five years live animals had been exported from the town.
Gavin Grant, RSPCA Chief Executive, said; "I am delighted that ABP have suspended this dire trade. They are taking their responsibilities seriously to the animals.
Two animal welfare charities will hold an emergency public meeting tonight following the export of live animals from the Port of Ipswich last week.
Lorries full of livestock arrived at the Suffolk town's West Bank terminal last Friday under police escort.
It was the first time in five years live animals had been exported from Ipswich after the practice was banned in Kent.
Now the RSCPA and the Compassion in World Farming are calling for the public to help them stop the practice. They're organising a meeting at the Corn Exchange on Friday evening.