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Here is an entry from the Jamieson, Fawcett, Brown commentary:
Jeremiah 8:22. balm—balsam; to be applied to the wounds of my people. Brought into Judea first from Arabia Felix, by the queen of Sheba, in Solomon’s time [JOSEPHUS, Antiquities, 8.2]. The opobalsamum of PLINY; or else [BOCHART] the resin drawn from the terebinth. It abounded in Gilead, east of Jordan, where, in consequence, many "physicians" established themselves (Jeremiah 46:11; 51:8; Genesis 37:25 43:11).
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