Global superstar Taylor Swift has pulled out of her agreement to perform at this year's Melbourne Cup.

The American singer had been scheduled to appear on race day – November 5 – to perform two songs, but will now not be appearing.

The announcement of Taylor Swift's Melbourne Cup performance had boosted ticket sales to the race meeting. Credit:AP

Her booking was hailed as a major coup by the VRC.

But in a statement Mushroom Events said that it had “regretfully advised the Victoria Racing Club (VRC) that a recent change to Taylor Swift’s Asian promotional tour means she will no longer be able to perform at this year’s Melbourne Cup”.