Of, relating to, or having the nature or qualities of balsam; balsamic.
From 'balsam' plus the Latinate suffix '-ical' (relating to or having the nature of). An alternative form of 'balsamic,' this variant appears in older English medical and botanical texts.
The suffix '-ical' versus '-ic' might seem interchangeable, but '-ical' often feels more formal or scientific—'balsamical' appears in Renaissance herbals to convey scholarly authority about healing properties.
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