The Collaborative International Dictionary of English v.0.48:

Balata \Bal"a*ta\, n. [Sp., prob. fr. native name.]
   1. A West Indian sapotaceous tree (Bumelia retusa).
      [Webster 1913 Suppl.]

   2. The bully tree (Minusops globosa); also, its milky juice
      (); also, its milky juice (), which when dried
      constitutes an elastic gum called chicle, or chicle
      gum.
      [Webster 1913 Suppl.]

WordNet (r) 3.0 (2006):

balata
    n 1: when dried yields a hard substance used e.g. in golf balls
         [syn: balata, gutta balata]
    2: a tropical hardwood tree yielding balata gum and heavy red
       timber [syn: balata, balata tree, beefwood, bully
       tree, Manilkara bidentata]