The Collaborative International Dictionary of English v.0.48:

Balaustine \Ba*laus"tine\, n. [L. balaustium, Gr. balay`stion.]
   (Bot.)
   The pomegranate tree (Punica granatum). The bark of the
   root, the rind of the fruit, and the flowers are used
   medicinally.
   [1913 Webster]