Victoria's coronavirus caseload has fallen below 50 for the first time in more than a month, yet the pandemic has led to the cancellation of another signature event, the Royal Melbourne Show.

Three new Victorian cases of COVID-19 were confirmed on Wednesday, bringing the state's total to 1354. A woman in her 80s became the 18th person in the state to die of the virus.

Efforts to flatten the curve continue to pay dividends, with the number of active coronavirus cases in Victoria at its lowest since the grand prix cancellation in the middle of March.

As of Wednesday afternoon, there were 49 active coronavirus cases in Victoria. Eighteen people are in hospital, including nine in intensive care, and a total of 1287 people have recovered.